VOICED : Ethiopia banks on mobile money for financial growth

The video discusses the potential of mobile money, specifically the Ambyr service, to enhance financial growth in Ethiopia. Despite the country's rapid economic growth, its banking system remains underdeveloped. Mobile money offers a convenient, safe, and reliable alternative to traditional banking, reducing bureaucracy and increasing accessibility. The service is gaining popularity, although it faces challenges in a tightly controlled economy. Comparisons with Kenya's successful mobile money system highlight the potential for significant change in Ethiopia.

What is one of the main benefits of using mobile money services like Ambyr?

• It allows for instant cash withdrawals.

• It eliminates the need to carry physical cash.

• It requires a lot of paperwork.

• It is only available during bank hours.

What is a significant challenge faced by Ethiopia's banking system?

• Too many people have bank accounts.

• The banking system is highly developed.

• Only a small fraction of the population has bank accounts.

• There is no economic growth in the country.

How does mobile money help in reducing bureaucracy?

• By requiring more documentation.

• By allowing transactions through simple text messages.

• By increasing the number of bank branches.

• By extending bank opening hours.

What is a key advantage of mobile money over traditional banks?

• It has limited accessibility.

• It is only available in urban areas.

• It requires visiting a bank branch.

• It can be accessed anytime and anywhere.

What is a potential outcome of adopting mobile money in Ethiopia?

• A decrease in financial inclusion.

• A shift towards a cashless economy.

• An increase in cash transactions.

• A decline in economic growth.