Tigrai Online, Oct. 26, 2012
ADDIS ABABA — Ethiopia is one of the few remaining African countries to introduce mobile banking. With the booming economy and a population of 80 million this country could be the next gold mine for mobile banking companies.
Mobile banking has proved to be a lucrative venture in the developing world, where large parts of the population belong to the so-called "unbanked." In Africa, only Ethiopia and Zimbabwe do not provide mobile money services. That will change soon for Ethiopia.
BelCash and M-Birr are mobile banking technology providers that have been in Ethiopia for the last three years to set up mobile banking and mobile money services.
Dutch company BelCash is focused on mobile banking, working in partnership with banks to provide easier access to finance through bank accounts. Ireland-based M-Birr is a mobile money service that works with micro finance institutions where no registration at a bank is needed.
Source: VOA News