One million Ethiopians signed up for the country’s first mobile wallet in one week ...Middle East

Quartz - Economy
One million Ethiopians signed up for the country’s first mobile wallet in one week
source : Quartz ( Middle East ) () 22
More than 1 million cellphone subscribers in the populous African country of Ethiopia have registered for a new mobile money service less than a week after its launch by state-controlled Ethio Telecom, the company has said. The service, called Telebirr, is to be integrated with banks in the coming weeks.The interest in Ethiopia’s first mobile money platform reflects “the huge pent-up demand for mobile money services in Ethiopia,” a spokesperson for the World Bank said. Combined with the government’s process to open up the telecom sector to foreign players, it expects soon “to see a wider range of digital financial services, such as online savings accounts, loans, [and] insurance services,” t

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