Lion International Bank (LIB) had launched HelloCash mobile agent banking service on September 22, 2015, at Capital Hotel and Spa, Addis Ababa, Ethiopia, according to The Reporter.

LIB launched the service in collaboration with BelCash Technology Solutions (BCTS) PLC.

Abraham Tilahun, Head of Alternative Channel Banking Division at LIB said LIB launched HelloCash service because there are significant numbers of mobile phone users in Ethiopia who want to send money in real time through mobile accounts.

Abraham said: “We currently have 200 agents in Addis Ababa and some other towns to serve 13,000 clients of HelloCash service.”

Lion Bank was founded in 2006. Currently, it has 90 branches across Ethiopia. LIB’s asset is estimated to be 6.2 billion Birr and its paid up capital has reached 510 million Birr.

Source: The Reporter