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Ethio Telecom’s mobile money platform, Telebirr, has seen its transactions soar 22.6 folds to 679.2 billion birr ($2.8 billion) in the latest year. This growth was driven by a number of factors, including the expansion of the platform’s acceptance at merchants and the increasing use of Telebirr for bill payments and money transfers.
Telebirr now has over 34 million subscribers, making it the most popular mobile money platform in Ethiopia. The platform is accepted at over 1 million merchants across the country, and it is used for a variety of purposes, including bill payments, money transfers, and merchant payments.
The growth of Telebirr is a significant development for the Ethiopian economy. The platform has made it easier for people to access financial services, and it has helped to boost economic activity in the country.
Here are some additional numbers about Telebirr:
- Telebirr transactions have grown at an average annual rate of 120% since its launch in 2021.
- Telebirr is used by over 34 million people in Ethiopia, which is equivalent to 45% of the country’s population.
- Telebirr is accepted at over 1 million merchants across Ethiopia, which is more than the number of ATMs in the country.
- Telebirr transactions are processed instantly, which makes it a convenient and efficient way to make payments.
In addition to the numbers above, it is also worth noting that Telebirr has been used to provide microcredit to millions of people in Ethiopia. This has helped people to start their own businesses or improve their livelihoods, which has had a positive impact on the economy.
Telebirr is still a relatively new platform, but it has already made a significant impact on the Ethiopian economy. The platform is likely to continue to grow in the years to come, and it has the potential to revolutionize the way people in Ethiopia access financial services.
