October 10

Safaricom Gets Approval to Launch M-Pesa in Ethiopia

By Victor Oluwole

M-Pesa, the Kenyan mobile money service success story that began in 2007, is continuing its expansion, this time into Ethiopia.

At the national launch of Safaricom Telecommunications Ethiopia (STE) in the capital Addis Ababa yesterday, Ethiopia’s Finance minister Ahmed Shide disclosed that the mobile money platform had received approval to roll out its services across the country.

The Finance minister noted that Safaricom would be allowed to acquire permits of operation and license for M-Pesa services from the Central Bank following the approval. The license permits the telecom giant to operate in the country for fifteen (15) years. Safaricom will also operate under its original name in offering mobile money services.

Photo courtesy of Scott Mainwaring.

Source: Business Insider Africa (link opens in a new window)

Finance, Telecommunications
financial inclusion, telecommunications