Ethio telecom and Siinqee Bank Launch New Mobile Financial Services and Device Financing

Ethio telecom, in partnership with Siinqee Bank, has launched a new range of mobile financial services and smartphone financing solutions aimed at accelerating Ethiopia’s journey toward financial and digital inclusion.

Leveraging the success of telebirr, Ethio telecom’s digital payment platform with over 52.5 million subscribers, the new services will offer rural and urban citizens access to savings, microloans, salary-based loans, and device financing options directly via their mobile phones.

Key offerings under the partnership include:

• Mobile Savings Accounts: Accessible via telebirr, allowing users to save remotely with both interest-free and interest-bearing options.
• Microcredit and Salary Loans: Individuals and Micro and Small Enterprises (MSEs) can access microloans of up to 30,000 Birr and salary-based loans of up to one million Birr without traditional collateral requirements.
• Device Financing: Ethio telecom and Siinqee Bank aim to distribute up to two million smartphones annually to underserved populations, bridging the digital divide and enhancing access to telecom services and digital finance.

The initiative is part of Ethio telecom’s broader commitment to expanding digital infrastructure, promoting financial inclusivity, and fostering economic empowerment across Ethiopia — particularly within farming, pastoralist, and low-income communities traditionally underserved by formal financial institutions.

“Through strategic partnerships and innovation, we are committed to improving livelihoods, supporting small businesses, and driving Ethiopia’s transformation towards a fully digital economy,” said Frehiwot Tamiru, CEO of Ethio telecom.

The collaboration is expected to disburse up to 10 billion Birr annually in loans to Micro and Small Enterprises, while providing up to 4 billion Birr in device financing support through Siinqee Bank.

Ethio telecom continues to lead Ethiopia’s digital future by introducing inclusive services that empower citizens and promote national growth.

//Staff writer