DEG has invested $4.9 million in M-BIRR Ethiopia

DEG, a German funder has invested $4.9 million in M-BIRR which is a cashless money transfer and payment service in Ethiopia. M-BIRR was established by Thierry Artaud and Jim Noctor in 2009 after having seen the success of M-PESA. The company has over 1 million customers and is in partnership with 6 financial institutions in Ethiopia. The funding will be used to expand its business within the growing Ethiopian economy.

 

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