Wegagen Bank, in collaboration with E-Birr Mobile Financial Services, has introduced a mobile wallet service designed to enhance financial accessibility. The service eliminates the need for branch visits, allowing users to open wallet accounts, transfer funds, make payments, and manage transactions seamlessly through a mobile app or USSD code.
The mobile wallet was officially launched during a ceremony held in Shire town, attended by esteemed customers and distinguished guests. Ato Yehwalashet Zewdu, Deputy CEO of Enterprise Services at Wegagen Bank, highlighted the convenience and accessibility of the E-Birr mobile wallet. He emphasized that the service empowers users to conduct transactions anytime, anywhere, while playing a pivotal role in expanding the bank’s reach and promoting financial inclusion.
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Ato Bewket Tafere, Board Chairperson of E-Birr Mobile Financial Services, underscored the transformative impact of fintech collaborations in modernizing banking. He noted that E-Birr has facilitated over 2 trillion birr in transactions, contributing significantly to financial inclusion by enabling secure, instant, and seamless transactions.
Artist Selam Tesfaye, the bank’s brand ambassador, encouraged customers to explore the full range of Wegagen Bank’s digital banking services, including the newly introduced E-Birr mobile wallet. Customers can access the service by downloading the E-Birr app from the Play Store or App Store or by dialing *602# and selecting Wegagen Bank as their provider. Importantly, individuals without a bank account can also use the service, ensuring broader accessibility.
The E-Birr mobile wallet allows users to link their Wegagen Bank accounts for seamless fund transfers between bank and wallet accounts. Users can also send money to non-wallet users, ensuring that financial services reach even those without formal accounts. The service is accessible in areas without bank branches, thanks to its integration with agency banking. Furthermore, it supports payments for services such as mobile airtime, Ethiopian Airlines tickets, water bills, school fees, taxi-hailing services, and more.
Wegagen Bank, established on June 11, 1997, with an initial paid-up capital of 30 million birr from 16 investors, has grown significantly. Today, its paid-up capital exceeds 6 billion birr, while total capital has surpassed 11 billion birr. The bank’s assets have reached 74.6 billion birr, and it operates 443 branches, 394 ATMs, 457 POS machines, and over 4,800 agents across Ethiopia. Wegagen also provides conventional and interest-free Amana banking services via internet and mobile banking platforms.
Notably, Wegagen Bank recently became the first and only company to list on the Ethiopian Securities Exchange (ESX), reinforcing its pioneering role in Ethiopia’s financial sector.
