Operator Ethio Telecom, in partnership with Siinqee Bank, an Ethiopian provider of banking and microfinance services, has launched a new range of mobile financial services and smartphone financing solutions.
Leveraging the success of telebirr, Ethio Telecom’s digital payment platform, which boasts over 52.5 million subscribers, the new services will offer rural and urban citizens access to savings, microloans, salary-based loans, and device financing options directly via their mobile phones.
Among the key offerings are a savings service that allows customers to use telebirr to access both interest-free and various interest-bearing mobile and time deposit savings accounts, enabling them to save any amount of money from anywhere.
A microcredit service, meanwhile, enables individuals, micro and small enterprises (MSEs), or medium-sized institutions engaged in business to access microloans of up to ETB30,000 Birr (about US$224.28) based on their telebirr transaction history.
There are also services that enable micro and small enterprises, merchants and agents to start or expand their small businesses through both collateralised and non-collateralised loans of up to ETB1.2 million (about US$8,970). It is planned to disburse up to ETB10 billion (about US$74.8 million) annually through this service.
Salary-based loans of up to ETB1 million (US$7,477), without traditional collateral requirements, are also being offered to employees of private and public institutions whose monthly salaries are paid through telebirr or Siinqee Bank.
In addiiton, there’s also a device financing service through which Ethio Telecom is working with various financial partners to provide up to two million smartphones annually, as well as SIM cards, to low-income citizens through diverse long-term payment options. As part of this, an agreement worth up to ETB4 billion (about US$29.9 million) for device financing has been reached and initiated with Siinqee Bank.
The initiative is described as part of Ethio Telecom’s broader commitment to expanding digital infrastructure, promoting financial inclusivity, and fostering economic empowerment across Ethiopia — particularly within farming, pastoralist, and low-income communities traditionally underserved by formal financial institutions.
