Ethio Telecom’s mobile money lures 4 mln in first month, document says

JOHANNESBURG: Ethio Telecom has signed up 4 million Ethiopians for a mobile money service that it launched in May, a document published by the Finance Ministry said, as the government seeks to sell a stake in the state-owned company.

The Telebirr service allow users to send and receive money, deposit or take out cash at appointed agents, pay bills and receive cash from abroad, mirroring services that have spread elsewhere in Africa where many people do not have bank accounts.