Ethio telecom, in collaboration with Siinqee Bank, has launched new mobile financial services and smartphone financing solutions aimed at advancing Ethiopia’s financial sector and enhancing digital inclusion. This initiative builds on the success of telebirr, which has gained over 52.5 million subscribers, and seeks to provide both rural and urban citizens with access to vital financial services.
The new offerings include savings accounts (both interest-free and interest-bearing), microloans up to ETB 30,000, salary-based loans, and device financing. Employees from private and public institutions, including Ethio telecom and Siinqee Bank staff, are eligible for loans up to five months’ worth of their salaries, with a repayment period of up to 14 months.
One of the standout features of the program is the distribution of up to two million smartphones annually to underserved communities via the Device Financing program. This aims to help low-income citizens acquire smartphones, which in turn will grant them access to telecom and digital services.
These initiatives are part of Ethio telecom’s broader vision of digital and financial empowerment. The company aims to disburse up to ETB 10 billion in loans and ETB 4 billion in device financing each year, thereby strengthening Ethiopia’s digital economy.
