Home Business Telecom MasterCard, Ethio Telecom Part...

MasterCard, Ethio Telecom Partner to Boost Digital Financial Services in Ethiopia

Telecom

Business Honor
26 March, 2025

MasterCard and Ethio Telecom collaborate to enhance financial inclusion and sustainable growth through digital services.

MasterCard aims to expand digital banking services in Ethiopia through the use of the telebirr network of Ethiopian Telecoms. A MasterCard assignment led by Mark Elliott, who is the president of MasterCard Africa, and Frehiwot Tamru, who is the CEO of Ethiopian Telecom, discussed the partnership's plans, which intend to substantially broaden financial inclusion and promote sustainable economic growth.

The goal of the discussion was to find methods for working together in order to take advantage of Mastercard's global banking solutions and Ethio Telecom's Telebirr platform. The partners hope to develop new and easily available digital financial services by pooling these resources in order to promote regional and local economic development.

Ethio Telecom is one of Africa's biggest telecom providers, with 43.5 million mobile data users and 77.7 million voice call subscribers. Tamru, the CEO of Ethio Telecom, highlighted the company's dedication to this project. She emphasized that Ethio Telecom's large customer base and strong infrastructure are important resources that would open up new doors for millions of Ethiopians. She also underlined Telebirr's digital capabilities, stating how they significantly improve user experiences.

According to Tamru, Telebirr has been instrumental in promoting financial inclusion in Ethiopia by allowing users to conduct a variety of digital financial activities, including bill payment and money transfers, straight from their mobile handsets.

According to the post, both leaders are dedicated to speeding up the introduction of this significant cooperation, which is expected to significantly boost Ethiopia's competitiveness in the worldwide digital economy and promote a welcoming financial environment that supports wealth creation and sustainable growth across the nation.