Safaricom made inquiries to launch M-Pesa services in Ethiopia.

November 22, 2021

Safaricom has formally inquired about the potential of introducing M-Pesa, its mobile money transfer service, in Ethiopia, as well as the additional license price that would be required. Safaricom’s CEO, Peter Ndegwa, has informed investors that he has written to the Ethiopian Telecommunications Authority seeking clarity on what will be required of Safaricom Ethiopia in order for it to be permitted to offer mobile money services. “The letter has gone in. We are currently awaiting a response from the Ethiopian authorities,” Peter Ndegwa said. “Our understanding is we will be allowed to operate mobile money, but there are certain conditions that the government will be confirming to us including potentially some additional fee.” The decision has been interpreted as indicating that Safaricom’s Ethiopia ambitions have not been hampered by the country’s current security situation in some areas. He also remarked, “The investment in Ethiopia is a long-term play. Our hope is that this matter would be resolved in a speedy and peaceful way.” With over 50 million phone subscribers, Safaricom believes Ethiopia has a lot of potential for M-Pesa services.

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