NCBA Group has disclosed that it is looking to partner up with Safaricom to launch digital banking services in Ethiopia, Africa’s second most populous nation. In Kenya, NCBA in partnership with Safaricom have achieved incredible financial success with their M-Shwari loans and Fuliza overdraft service. “In Ethiopia, we will certainly talk to Safaricom, but also other local banks that we can work with…or maybe work with Safaricom,” Gachora stated. The bank saw its full year net profit increase from Ksh10.22 billion in 2021 to Ksh13.78 billion in 2022 – a 34.77% increase. The potential for Ethiopia is immense and we look forward to the future with optimism and excitement,” noted Safaricom CEO Peter Ndegwa.

Source: Daily Nation June 05, 2023 12:37 UTC