Addis Ababa ( Ethiopia Today) February20, 2023:- Kenyan mobile network operator Safaricom, is currently on the verge of launching its mobile money services in Ethiopia, four months after its license was approved by the Ethiopian government.
According to Safaricom’s CEO Aanwar Soussa, he disclosed that the startup is currently finalizing plans to launch operations by April 2023.
“We are finalizing our commercial and technical readiness, and we expect to launch operations within the upcoming financial year. Our growth trajectory is even more exciting for us as we look forward to offering financial services through M-PESA.” says Soussa.
Last October, Kenyan mobile money operator Safaricom was granted approval by the Ethiopian government to launch M-pesa in the country that allows users to transfer money using a mobile phone. .
Launched on the 6th of March 2007 by Vodafone’s Kenyan associate, Safaricom, M-PESA is Africa’s leading mobile money service with more than 604,000 active agents operating across Egypt, Tanzania, Ghana, the Democratic Republic of Congo (DRC), Egypt, Kenya, Lesotho, and Mozambique.
M-Pesa is also lauded for its social value, offering opportunities for SMEs, and playing a significant role in helping the underbanked. The platform has directly transformed households as it evolved from a basic SIM card-based money transfer application into a fully-fledged financial service, offering loans and savings in conjunction with local banks, plus merchant payments services.
Credit:- Tikedia Capital