Ethiopia’s digital finance landscape has expanded at a remarkable pace, with mobile banking accounts increasing from 9.1 million in 2020 to about 54 million by early 2025. The growth is as a result of rising smartphone penetration, wider agent networks, improved digital infrastructure and stronger integration between financial institutions and telecom operators. What began as basic mobile money transfer services has evolved into a multi-layered ecosystem that now supports lending, savings, merchant payments, remittances and government transactions.
The expansion has also reduced reliance on cash in many urban centers while extending formal financial services to previously underserved communities. Both telecom-led wallets and bank-backed applications now operate as full-service platforms rather than simple payment tools, contributing to a competitive and fast-developing digital market.
SuperApps Drive Competition Across Telcos and Banks
Ethiopia’s digital finance sector is increasingly defined by “SuperApps,” integrated platforms that combine multiple financial services within a single interface. These applications now include digital wallets, unsecured loans, overdrafts, international transfers, merchant QR payments and automated bill settlements.
Both telecom companies and traditional banks are competing in this space. Telecom-led platforms focus on broad accessibility and wallet-based services, while banks are integrating their core accounts into mobile systems to provide deeper credit and savings products. The result is a market where digital financial services are no longer standalone offerings but interconnected ecosystems linking consumers, merchants and government agencies.
Here are the top 5 mobile banking apps in Ethiopia boosting its fast-growing digital finance landscape in 2026:
- Telebirr (Ethio Telecom)
Telebirr, operated by Ethio Telecom, is currently the most widely adopted digital wallet in the country. It functions independently of a traditional bank account, allowing users to register and transact directly through their mobile phones. The platform has become central to everyday payments for millions of users, especially in areas where banking infrastructure remains limited.
Telebirr has expanded beyond basic transfers to offer structured lending products. Its micro-credit program, known as Mela, provides personal loans of up to 10,000 ETB and business loans up to 100,000 ETB using AI-driven credit scoring. Salary-based loans are also available for employees whose wages are processed through the platform, with limits reaching up to 1 million ETB or six months’ salary, repaid over periods extending to 16 months. In addition, the Enderas microloan facility offers up to 30,000 ETB for small enterprises based on transaction history.
Telebirr also includes financial management tools designed to increase user engagement. The Endekise feature allows customers to access up to 2,000 ETB as an overdraft even when their balance is zero, supporting immediate payments. The Sanduq digital savings option provides interest rates of up to 7% or interest-free alternatives, depending on the product structure.
One of Telebirr’s defining characteristics is its deep integration with government systems. The platform is mandatory for several nationwide payments, including fuel purchases, traffic fines and utility bills. This integration has strengthened its role as a core infrastructure component within Ethiopia’s digital economy.
Additionally, Telebirr Remit enables members of the diaspora to send funds directly from international Visa cards into Ethiopian mobile wallets, simplifying cross-border remittances.
- CBE Birr Plus (Commercial Bank of Ethiopia)
CBE Birr Plus is the mobile financial platform operated by the Commercial Bank of Ethiopia, the country’s largest bank. Unlike standalone wallets, it is directly connected to traditional bank accounts, allowing seamless movement of funds between mobile services and core banking systems.
The platform’s digital loan product, CBE Beje, provides unsecured loans ranging from 500 to 150,000 ETB. Eligibility is primarily based on payroll agreements between employers and the bank, making it particularly accessible to salaried employees in institutions with established partnerships. This structure allows the bank to extend credit while leveraging payroll data for risk assessment.
CBE Birr Plus includes features designed to enhance convenience and merchant adoption. Its Magic Pay system supports QR-based transactions across thousands of locations, enabling fast digital payments without physical cards. The cardless withdrawal feature allows users to send money to a recipient’s mobile number, who can then withdraw funds at any CBE ATM without using a bank card.
The platform is fully interoperable with traditional CBE accounts, enabling instant transfers and reinforcing the bank’s digital transformation strategy.
- M-PESA Safaricom
Safaricom’s M-PESA operates in Ethiopia through the LeHulum App and is designed as a telco-agnostic platform, meaning it works across different mobile networks. This structure increases accessibility by removing restrictions tied to specific SIM cards.
The platform functions as a full-service mobile wallet, allowing users to send money, make merchant payments and purchase airtime without requiring a bank account. This approach broadens financial inclusion by targeting both banked and unbanked customers.
M-PESA has expanded its cross-border capabilities through partnerships that enable users in more than 190 countries to send money directly to Ethiopian wallets. These integrations strengthen remittance flows and connect domestic users to global financial networks.
The platform also collaborates with local banks to offer credit products, including overdraft facilities, further expanding its financial services beyond payments.
- Apollo Digital Bank (Bank of Abyssinia)
Apollo Digital Bank, operated by the Bank of Abyssinia, is Ethiopia’s first fully branchless digital bank. The platform is designed to serve digitally active users, particularly younger demographics seeking fast and mobile-first banking solutions.
Users can open accounts within minutes using biometric verification and Face ID technology, eliminating the need to visit physical branches. This streamlined onboarding process supports rapid account creation and encourages broader participation in formal banking.
Apollo provides uncollateralized micro-loans with short repayment periods ranging from one week to three months. Interest rates are structured on a monthly basis, and the product is tailored for short-term financial needs.
The app also integrates payments for services such as visa fees, airline transactions and school-related platforms, expanding its role beyond traditional banking into everyday financial activities.
- Dashen Bank Super App (Amole)
Dashen Bank’s Super App builds on its established Amole wallet system, combining traditional banking services with digital payment tools. The platform incorporates Fayda Digital ID for identity verification, enabling faster and more secure onboarding. The use of digital ID systems strengthens customer verification processes while simplifying access to financial services.
The Dashen Super App supports virtual accounts that allow users to receive international payments directly into digital wallets. It also operates across mobile applications, internet banking and USSD channels, ensuring accessibility for both smartphone users and those using basic mobile devices.
The platform is particularly focused on high-volume merchant QR payments, positioning it as a strong competitor in Ethiopia’s expanding digital commerce ecosystem.
Jefferson Wachira is a writer at Africa Digest News, specializing in banking and finance trends, and their impact on African economies.