Govt to Grant Safaricom Licence to Launch M-Pesa in Ethiopia

ADDIS ABABA – The government of Ethiopia is set to grant Safaricom a license to launch the M-Pesa mobile money services in the country.

CEO of Safaricom Plc, Peter Ndegwa said he was “elated to announce an agreement” with the Federal Government to roll out the mobile financial services in Ethiopia.

The announcement was made at the national launch of Safaricom in Ethiopia in the presence of Prime Minister Abiy Ahmed and Kenyan President William Ruto.

“We congratulate Safaricom for being authorized to run mobile money in Ethiopia,” said President Ruto.

Ethiopia amended its laws to allow foreign investments in mobile money services, said Finance minister Ahmed Shide.

The license will make Safaricom the first foreign company to start mobile money services in Ethiopia.

Safaricom PLC runs Africa’s largest Fintech – M-PESA mobile money transfer system.

M-PESA allows over 28 million of its customers to transact, save or borrow money through their mobile phones, and generates over $826 Million in annual revenue.