TERMS AND CONDITIONS FOR THE ACTIVATION AND USE OF WABI

MICRO-CREDIT SERVICES

The Contract:

1. This contract sets out the complete Terms and Conditions (hereinafter called "These Terms and Conditions") which shall be applicable to wabi micro-credit service.
2. These terms and conditions, as well as any related amendments or changes, will become effective once the individual customer has read and accepted them (by clicking on the option to (“Activate”.)

TERMS AND CONDITIONS FOR ACTIVATING AND USE WABI MICRO CREDIT SERVICES

1. This agreement (hereinafter referred to as the "Terms and Conditions") includes the general terms and conditions applicable to the telebirr Wabi Credit service.
2. These Terms and Conditions, including any associated amendments and changes, shall become binding and effective upon the customer once they have been read and accepted (by selecting the "Activate" option) for the telebirr Wabi micro credit service.
3. Definitions

In these Terms and Conditions, the following words and expressions bear the below meanings:

• Sinqee Bank" means a regulated financial institution that has agreed to provide Wabi micro-credit services to telebirr customers in collaboration with Ethio Telecom
• "Ethio Telecom" means an institution licensed as a payment instrument issuer that has an agreement to facilitate the Wabi micro credit service provided by Sinqee Bank.
• National Bank of Ethiopia" means the institution with the authority to license and supervise financial institutions in accordance with Proclamation No. 718/2011 (as amended by 1282/2023) .
• "telebirr"means trade name of Ethio telecom mobile money service used to access financial services.
• telebirr Account" means account opened for telebirr user to store, send, and receive electronic money.
• "Wabi Micro credit Service" means Micro creditservice provided by Siinqee Bank in collaboration with Ethio Telecom that enables individual customers to access credit service through telebirr channels in accordance with these terms and conditions set forth below.
• Wabi Salary Loan Service" means a lending service provided by Sinqee Bank in collaboration with Ethio Telecom through telebirr, offered to private and public institutions employees based on agreements made with their respective institutions and in accordance with these terms and conditions.
• "Individual Customer" means a natural person who has a telebirr account in their name and has agreed to use the telebirr Wabi micro credit service.
• "Electronic Money/E-money" means an electronic monetary value equivalent to the Ethiopian Birr, which is managed by the customer and held within the customer's telebirr account.
• You" or "Your" means the Individual Customer and includes the individual's legal personal representatives.
• We," "Us," and "Our" means Sinqee Bank and Ethio Telecom
• Facilitation Fee" means a fee paid by individual customers on the first day of using the Wabi micro credit service.
• Daily fee" means a type of payment made daily by the individual customer on the outstanding debt amount, based on the specific type of credit taken
• "Penalty Fee" "Penalty fee" means the fee which the Individual customers shall be charged if they fail to honor their commitments on time or within the due date.
• Due Date" means the last date by which the individual customer is expected to complete the repayment of the loan they have taken.
• "Non-Performing Loan (NPL)" means a loan that remains unpaid after 90 days, counting from the final date on which the borrower was expected to complete the repayment.
• The word“individual " shall include both the masculine and the feminine gender.
• The term "individual" refers to both male and female genders.

2. Acceptance of the Terms and Conditions
   • Siinqee Bank , in collaboration with Ethio telecom, offers this credit service, siinqee bank owns and controls the money used to provide the credit services
   • To activate the mela micro credit service, individual customers shall use USSD (*127#) or telebirr super App.
   • Before applying to use wabi micro credit service you should carefully read and understand these Terms and Conditions which will govern the use and operation of wabi Micro Credit service.
   • If you do not agree with these Terms and Conditions, please do not click the “activate”
   • You will be deemed to have read, understood, and accepted these Terms and Conditions upon clicking on the “Activate” option on the Menu requesting you to confirm that you have read, understood, and agreed to abide with these Terms and Conditions; and/or by using or continuing to use and operate wabi micro credit Service.
   • You acknowledge and accept the wabi Micro credit services and agree to conduct business with Ethio Telecom using only electronic means via Telebirr to operate the wabi  Microcredit services.
   • The terms and conditions can be modified or changed at any time by Ethio telecom and/or Siinqee Bank, upon these changes’ notification will be sent to you through appropriate communication channels. The updated term and condition will be binding on the customer from the date they are published on the telebirr App, portal, or website.
   • Once the Terms and Conditions are accepted electronically, they shall constitute a legally binding contract between you and us You are not allowed to transfer any of your rights or obligations under this agreement to anyone else.
   • The individual customer agrees to use the credit only for lawful purposes.

3. Activation for wabi micro credit Service
   • To activate wabi micro credit service with Ethio telecom and siinqee Bank, you must be at least:
     • Able to read, understand and accept these terms and conditions.
     • Should be 18 years old and above.
     • Have an Ethio telecom active SIM card.
     • Active user of telebirr and Ethio telecom products such as Data/Voice/SMS.
     • Stay on network for (3) (three) months and above after registered for SIM card and telebirr services.

4. Eligibility Criteria to Get Micro Credit Service
   • An individual customer's borrowing capacity is determined by his or her 6-month telebirr transaction and telecom usage prior to the date of the mela credit payment service request. The telebirr transactions listed below are used to determine a customer's credit worthiness:

• Purchase airtime or packages.
• Buy goods or service.
• bill Payment by self-service or at agent.
• Utility payment by self-service or at agent.
• Receive Bulk disbursement.
• Receive Remittance.
• Ticket purchase.
• Fundraising payment.
• Cash-in/Cash-out at agent
• Saving
• Send Money
• Telecom usage like Voice, Data and SMS
• Credit Repayment History
  • However, to get wabi salary micro credit receiving salary via telebirr and a prior agreement with the institution where the individual customer working will be the requirement .

5. Credit Amount and Fees

• Based on your transaction activity , you can borrow any amount between the minimum and maximum permitted amount loan limits.
• Pursuant to Council of Ministers Regulation No. 576/2025, which establishes the Ethiopian Disaster Risk Response Fund, a mandatory contribution of 1% will be deducted from the total credit amount you have requested and transferred to the Ethiopian Disaster Risk Response Fund. The remaining amount of your approved credit will then be disbursed to your telebirr account.
• You should repay your previous credit first to get another credit.
• You can pay your credit partially or fully at a time.
• Credit repayment deadline will be 5 days, 10 days, 30 days, 45 days and 14 months from the date of taking the loan, depending on the type of loan.
• The maximum credit amount for 5 Days, 10 Days, 30 Days, and 45 Days is 5,000 Br, 6,000 Br, 15,000 Br, and 30,000 Br, respectively. Whereas the minimum credit amount for the  mentioned credit days is 100 Br, 100 Br 200 Br, and 2,500 Br, respectively.
• If you repay your 5 days Wabi credit within the due date, you will be charged a facilitation fee of 1.5% of the loan amount on day one and you will be charged a daily fee ranging from 0.35% to 1.2% for the rest of the repayment period depending on your credit limit.
• If you repay your Wabi 10 days credit, you will be charged a facilitation fee of 2% of the loan amount on first day, and you will be charged a daily fee ranging from 0.3% to 0.9% for the rest of the repayment period depending on your credit limit.
• If you repay your monthly Wabi credit within 30 days, you will be charged a facilitation fee of 4% of the loan amount on first day, and you will be charged a daily fee ranging from 0.3% to 1% for the rest of the repayment period depending on your credit limit.
• If you repay your 45 days of Wabi credit within 45 days, you will be charged a facilitation fee of 6.5% of the loan amount on first day. and you will be charged a daily fee ranging from 0.5% to 0.67% for the rest of the repayment period depending on your credit limit.
• For wabi salary micro credit service , the repayment will be installment base (outstanding credit amount will be prorated for repayment period) that will be settled every month.
• A 5 months’ salary Wabi credit service has 14 months repayment period and has a 19.5% facilitation fee.
• A 3 months’ salary Wabi credit service has 9 months repayment period and has a 14% facilitation fee.
• A 1 month’s salary Wabi credit service has 3 months repayment period and has a 12% facilitation fee.
• After the due date, you will be charged a penalty fee of 0.11% per day on the outstanding credit amount.
• The bonus/incentive will not be applicable for telebirr wabi repayment

6. Non-Performing loan collection
   • After due date we will take the outstanding credit amount from your telebirr account and sanduq saving account.
   • If the loan is not repaid when it is overdue, Ethio Telecom and/or  siinqee Bank may, where necessary, collect the debt using any alternative means, including direct debit from individual customer siinqee Bank or any other bank accounts.
   • The individual customer agrees that Ethio Telecom and/or siinqee Bank have the right to collect the debt by using alternative means, such as obtaining the individual customer's address, in order to assist in the collection of the debt outside of court.
   • The individual customer agrees that if the debt is not paid when it is overdue, Ethio Telecom and/ or siinqee Bank may transfer the individual customer's personal data to a third party (law firm or individual) involved in debt collection.
   • If the debt is not paid through an out-of-court alternative,  Ethio Telecom and/or  siinqee Bank have  full right to take the case to a regular court by themselves or separately through another legal service providing firm or an attorney.
7. Governing Law

The laws of the Federal Democratic Republic of Ethiopia, the directives of the National Bank of Ethiopia, as well as the relevant working procedures of  siinqee bank and/or  Ethio telecom shall govern these Terms and Conditions.

8. Queries

For any inquiries regarding the telebirr Services, Procedures, Terms and Conditions of the telebirr, can call the telebirr Customer Contact Center (127 ), send a short SMS to 126 or visit the telebirr Social media Pages (https://telehub.ethiotelecom.et/) for more information.

9. Termination

We are  entitled to suspend or terminate this agreement wholly or partially due to your abuse, misuse, or fraud of any of the micro credit saving and micro loan services with or without prior notice to you. Any termination of this contract completely or in part may not affect any accrued rights and obligations of either party.

10. Complaints and Disputes Resolution

Complaints may be made in person, in writing, by post, fax, email, or telephone. Ethio Telecom will take all measures within its means to resolve your complaints within a reasonable time. If you are not satisfied with the response, you may escalate the issue to siinqee Bank and National Bank of Ethiopia, in that order. If the parties fail to reach an agreement within thirty calandar days from the date the complaint was first submitted to Ethio Telecom, they agree to submit their cases only to the competent Court in Ethiopia.

11. Lien

We shall have a general lien over all your property/assets in its possession in the event that you owe any money to us including but not limited to cash, goods, securities or valuables deposited for safe custody as security, cheques presented, bills and any other movable or immovable property. Where you are indebted to us in circumstances giving us the right to set off, all property held under lien shall be deemed to be held as security for the debt.

12. Set Off

We may, upon notice, combine/consolidate your telebirr Account with any other accounts you hold with us, whether current, loan, savings, deposit, term deposit, joint or any other type and thereafter set off any amount held to your credit against any indebtedness you owe to us. 

13. Disclaimer

Your telebirr PIN must be kept strictly confidential and should not be accessible to anyone but yourself. You bear sole responsibility for any loss or damage incurred due to: sharing your PIN with third parties, failing to update it regularly, unauthorized usage, or neglecting to promptly report and block your account in the event of a stolen or lost mobile device/SIM card