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.

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