Companies Ethiopia closes door on M-PesaM-PESA. The new directive means that only companies like Ethio Telecom, which is a government-owned monopoly, have the greenlight to move into mobile money services. Without further changes to the regulations, Safaricom will remain unable to offer mobile financial services business in the customer-rich market, analysts said. advertisement“This directive effectively excludes foreign fintech and telecom companies from reaping the business benefits,” Bahakal Abate, a corporate lawyer in Addis Ababa, told Reuters. By contrast, Kenya’s 52.2 million mobile phone subscribers gives it a penetration of 109.2 percent.

Source: Ethiopian News April 03, 2020 05:26 UTC