nazret.com
 

« Ethiopia bring in new faces for Cecafa Challenge CupEthiopia: Bamboo, Mud and New Friendships Norwegian Refugee Council »

Ethiopia Permits Mobile Banking and Money Services

advertisement

11/18/12

  10:33:38 am, by admin, 405 words  
Categories: ICT, Finance

Ethiopia Permits Mobile Banking and Money Services

mobile banking
Ethiopia is one of the few remaining African countries to introduce mobile banking, Thursday, Oct. 25, 2012 Picture VOA

Ethiopia Permits Mobile Banking and Money Services

VOA News

Ethiopia is one of the last countries in Africa to permit mobile banking.

Mobile banking has proved to be profitable in the developing world, where many people still do not use banks. Earlier this year, the World Bank reported that seventy-five percent of the world’s poor are “unbanked.” That is about two point five billion people. Banking through mobile telephones lets people take part in financial services even if they are not near a bank office.

In Africa, only Ethiopia and Zimbabwe do not provide mobile money services. Now, that will change for Ethiopia.

BelCash and M-Birr are mobile banking technology providers. They have been setting up mobile banking and mobile money services in Ethiopia for the past three years.

Dutch company BelCash is working in partnership with banks to provide easier access to financing through bank accounts. Ireland-based M-Birr is a mobile money service that works with micro finance groups where no registration at a bank is needed.

Ethiopia’s mobile industry is young. And wireless service coverage in the country is not well developed. The pressure on the wireless network is expected to increase.

In the past four years, the number of mobile users grew from three to seventeen million. And Ethiopia’s telecommunications provider, Ethio Telecom, expects that number to grow to forty million in the next three years.

The government closely controls Ethiopia’s telecommunications market. That means there is only one provider. Competition is not permitted.

M-Birr General Manager Thierry Artaud says Ethiopia’s neighbors have several mobile providers.

"If you look at your neighbors, Kenya, Tanzania Uganda, they all have multiple mobile operators and they all have mobile money services and even multiple mobile money services.”

He says, if Ethiopia had no restrictions, his company would have to compete with larger companies.

Ethiopia has looked at other developing countries with mobile banking. National Bank of Ethiopia officials visited Kenya, Pakistan and Brazil.

Frezer Ayalew is with the National Bank of Ethiopia. He says mobile banking services will help the country.

“For the economy it has great contribution in terms of mobilizing domestic savings with these services.”

The National Bank of Ethiopia recently finished a draft order on how mobile banking services should be structured. This comes as more companies have shown interest in starting mobile banking services.

18 comments

User ratings
5 star:
 
(1)
4 star:
 
(1)
3 star:
 
(0)
2 star:
 
(0)
1 star:
 
(0)
2 ratings
Average user rating:
4.5 stars
(4.5)

1 2 >>

Comment from: Gemech [Visitor]
Gemech

Great news.Finally we are getting there.As they say better late than never.
In an era where even westerners are struggling to to be one step ahead of mobile fraudsters, it is not always wise to do things because your neighbours are doing it.

11/18/12 @ 11:21
Comment from: C'est moi senait [Visitor]
C'est moi senait

That is good. At least we will avoid to keep those dirty weyanne worthless currency in our pocket,plastic bags. And it is also an relief that we do not get bother by street beggars like Extraterra ,Heny,Agazi and Zerihun so that we can now transfer the small changes to these beggars with mobile bank.
I know that they accept American express and master card visa.

11/18/12 @ 11:51
Comment from: HagereEthiopia [Visitor]
HagereEthiopia

Are there no Ethiopian companies who can do this?

11/18/12 @ 12:11
Comment from: Amhara Princess [Visitor]
5 stars
Amhara Princess

Wakie Wakie, Rise & Shine !!
:)

11/18/12 @ 12:47
Comment from: zerihun [Visitor]
zerihun

C’est moi senait,
You know we have a son but he is not Extraterrestrial.
I made a mistake one night by drinking too much and here you are grabbing my dick made love to me–then you got your 1st child at the age of 52. I did not realized that you raped me until people told me that I remind them you through the smell I got from you that night. Kerfatam arogit–where is the child anyway? Last I heard was that he is in prison for rape you, his mother.

11/18/12 @ 13:36
Comment from: Jaga [Visitor]  
4 stars
Jaga

Ethiopia is so late to start this system of banking. But it’s not bad to start it soon.

11/18/12 @ 14:44
Comment from: mesfin_b [Member]  
mesfin_b

አስቲ ያታያል ::
የ ኢንተርኔት አገልግሎት እንክዋን ይህን ያህል አልዳበረም
ሞባይል ባንኪንግ ሲጨመርበት ደግሞ ምንኛ ቀርፋፋ እንደሚሆን ጥርጥር አይኖርም::

11/18/12 @ 18:40
Comment from: ayan [Visitor]
ayan

I miss melese
mobile banking you guys you dont know look ihave agas station in us you know most gas stations dont make sometimes lose money by using c.c debit card but have no choise we do it hoping custmers buy something else this companies they start with convenience then they make us addicted then they banckrupt the people and the gov

In developed countries every buisness loses 3% of total sell to credit,debit card companies
one question who owens visa,mastercard are they publicly traded companies? Where are they originated or headquarter?anybody who please let us knowW6

11/18/12 @ 19:49
Comment from: gashe_mamo [Member]  
gashe_mamo

.
@ Ayan
Why you miss Meles , when everybody gets a relief that he is gone!
Visa , MasterCard are US based financial institutions. You can google it to read more….

It is good that Ethiopia is starting to use the mobile bank system. Thanks to the regime, Birr has become worthless you have to carry a lot for a small transaction! The only negative side on this mobile banking is, we have one provider!……

.

11/18/12 @ 20:21
Comment from: my2cents [Visitor]  
my2cents

As Mesfin B. said, what is the big deal about mobile banking when there is almost no internet and the price of SIM card is the most expensive in the World.

http://alturl.com/9eqim

11/18/12 @ 20:46
Comment from: Samson [Visitor]
Samson

I know we are the last country on earth start using mobile banking system. I think it is good because we didnt have much economic crisis but now are advancing and there is more tech school are being built and more educated people are graduating in alarming rate, now we have educated people and it is fair to use mobile banking system. May god bless moma Ethiopia and my people .

11/18/12 @ 20:54
Comment from: Seattle [Visitor]
Seattle

Frezer Ayalew is with the National Bank of Ethiopia. He says mobile banking services will help the country.

Duh!
Did he just wake up and realized that? Hurry up before Zimbabwe beat us. That is the only country left in the planet that don’t do mobile banking.

May I say this was suggested by those hated diasporas 10 or more years ago but fallen on deaf ears.

11/19/12 @ 02:02
Comment from: gudfela [Visitor]
gudfela

Say no to IMF and World bank on demanding of the public’s institution in Ethiopia, such as banking, water utility, etc to privatize. They want it. Once you link Ethiopia’s finance with the West, you will see what you are seeing mass protest in Europe and Greece and perhaps the wiping out of America’s Middle Class. They want to put perhaps one global banking system. If they don’t like the color of your eyes, then your livelihood is gone. Not that TPLF by itself is not wiping out our people in every sector, it is wiping out. Add that foreign agressioon as form of soft war. Now it will not just be the country in debt, each individual will be enslaved with debt two times.

Who cares if we are the last. The things that will damage you, you shouldn’t implement anyways. The things that will not damage you such as having available internet and Mobile phones for the public is a good thing. Be selective when you are copying something from outside. That is why nations are in huge predicament, they get excited about copying only to find that it is the most damaging things. Beisdes when you are copying foreing policies, for poor nations such as Ethiopia they are more aggressive. Look at the Vulture banking where the World Bank and IMF will transfer your loand, or privatize your loans to their friend. And their friend who now owns your loan inclreases the interest by 100% countries such as other Africans and I heard even Ethioipa are disputing their loans by these vulture groups. There is a huge dispute at courts in London. I am surprised those of you who usually I expect to oppose this are agreeing with this?

11/19/12 @ 02:28
Comment from: TEDDY [Visitor]
TEDDY

What a joke ,with an IT service of bad quality and even inexistant once again Agazi bandits and Tigre Mafiosis wanna us to swallow their stupid lie …LOL !!! After their fake Renaissance Dam bonds ,they are certainly looking for a means how to grab diaspora’s moneys …LOL !!!!

11/19/12 @ 03:42
Comment from: TEDDY [Visitor]
TEDDY

Ayanawtaw ,you miss your Dead Master…Certainly not 99.99 % of the peoples who are delighted ,even with the stupid mourning shows organised by stupid bandas and Tigre Mafiosis ,by the Death of this blood sucker Tyrant and are expecting with great HOPES the END of his criminal colleagues and friends ….LOL !!!!

11/19/12 @ 03:49

1 2 >>

rebtel

advertisements

nazret.com is the #1 rated Ethiopian website. Be part of the largest Ethiopian News website, join in to become a contributor.

Search

  XML Feeds

powered by b2evolution
© nazret.com The Most Popular Ethiopian Website. nazret is Ranked #1 by Alexa and Qantcast.
All Rights Reserved 1994-2014
About Us | Contact | Feedback | Help | Privacy | Terms and Conditions