Ethiopia banks on mobile money for financial growth


  • TECH
  • Thursday, 21 Apr 2016

BOOMING BUSINESS: A customer conducting a mobile money transfer, known as M-Pesa, inside the Safaricom mobile phone care centre in the central business district of Kenya's capital Nairobi. — Reuters

DONI, Ethiopia: Outside a small store on a dirt track in the remote Ethiopian town of Doni, long queues wait for government cash handouts by the most modern of methods: mobile phone. 

Ethiopia, Africa’s second most populous country and one of its fastest growing economies, is pushing a new electronic payment service by phone – called M-Birr, or “mobile-money” – in a bid to bring millions into the banking system and financial services. 

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Tech News

Sheriff requests nude photos from female inmate in exchange for favourable treatment, US feds say
Google’s Sundar Pichai lays out his AI roadmap
Apple’s new iPad ad leaves its creative audience feeling … flat
Neuralink says implant had issues after first human surgery
Phone bans are gaining ground in schools worldwide
Disney, Warner Bros to offer streaming bundle of Disney+, Hulu and Max
Ascension warns of suspected cyberattack; clinical operations disrupted
Mexico's Megacable, Nokia announce successful data transmission test in connectivity plan
Airbnb forecasts weaker Q2 revenue despite robust demand for international travel
Arm's annual revenue forecast fails to impress investors; shares tumble

Others Also Read