Safaricom Ethiopia has been granted a licence by the National Bank of Ethiopia , allowing the telco to expand its lucrative mobile money business to the untapped Horn of Africa country with over 100 million people. "The National Bank of Ethiopia has today issued a mobile money service license to Safaricom M-Pesa Mobile Financial Service Plc , a subsidiary of Safaricom Telecommunication Ethiopia Plc ," the National Bank of Ethiopia said in a statement. "This is the first mobile money license granted to a foreign investor in Ethiopia ," it added. Only in October last year, Safaricom Ethiopia received a nod from the Ethiopian government to roll out M-Pesa. "The National Bank of Ethiopia wishes Safaricom's M-PESA service well as it launches its operations in the very near future."

Source: Ethiopian News May 12, 2023 14:07 UTC