M-Pesa operations in Ethiopia began three months after the National Bank of Ethiopia granted permission to offer mobile money services.
The nationwide rollout follows a three-month pilot and testing program, technical readiness completion, bank partnerships, and recruitment, training, and onboarding of M-Pesa agents.
M-Pesa allows users to send and receive money, pay merchants, purchase airtime, and transfer money to bank accounts using their mobile wallets.
Interim CEO of Safaricom Ethiopia Stanley Njoroge expressed excitement about the launch and its potential to improve financial inclusion.
In June of this year, the company paid a total of Sh20.5 billion ($150 million) to the Ethiopian government for a mobile financial services license.
Ethiopia, with a population of over 100 million people, provides the firm with an opportunity to diversify its revenue away from its Kenyan subsidiary.
In the Digital Payments Strategy 2025, Njoroge emphasized the company’s commitment to expanding services and promoting innovation.
