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HomeBusinessEthioTelecom sees Tele Birr Subscription spike, 104 percent growth reported  reports 

EthioTelecom sees Tele Birr Subscription spike, 104 percent growth reported  reports 

Ethio Telecom Tele Birr
Ethio Telecom reports 1.7 trillion birr of Tele Birr transaction since the service was launched in 2021. (Graphic : Ethio Telecom)

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Ethio Telecom says it has attained 104 percent sales target of its Tele Birr Service. Tele Birr is a mobile money payment system that was launched in May 2021. 

“We are delighted to announce that Telebirr service has achieved 104% of its target by attracting over 41 million customers in the first half of the budget year,” Ethio Tecome said in a social media update earlier this week. 

The volume of transactions in the first half of this budget year is 910.7 billion Ethiopian Birr, according to the company. The total  transaction since it was launched is 1.7 trillion birr. 

Ethio Telecom also said that it is making a positive impact in other forms of financial service which it is delivering in partnership with other financial institutions in the country. 

“…Through our partnership with Dashen Bank and Commercial Bank of Ethiopia, we are enabling significant economic transformation through digital financial services such as micro credit and saving services. 3.8 million telebirr users benefited 8.3 billion birr from our micro credit services whereas 8.4 billion birr was mobilized in savings from 1.5 million users,” it said.  

Earlier this week, Ethio-Telecom declared a 42.9 birr revenue in the first half of this budget year ; 11 billion birr is said to be net profit.  The state-owned Telecom giant in Ethiopia said the security situation in some parts of the country made business operations difficult. 

Soon after the end of the war between the Tigray People’s Liberation Front (TPLF) and Abiy Ahmed’s government, a devastating war broke out in the Amhara region. Amhara region, one of the most populated areas in the country, has been under internet black out since Abiy Ahmed’s government declared a state of emergency in August this year.   

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