The National Bank of Ethiopia (NBE) has issued a mobile money-service license to Safaricom M-Pesa Mobile Financial Service, it announced May 11. Kenya-based Safaricom was also the first company to break Ethio Telecom’s monopoly on Ethiopian mobile phone service in October, through its Safaricom Telecommunications Ethiopia subsidiary. We have received a license from @NBEthiopia to provide mobile financial services under the M-PESA brand. https://t.co/JTvaTfmQDy#MPesaEthiopia #SafaricomET pic.twitter.com/AmzkA4OxeW — Safaricom Ethiopia (@SafaricomET) May 11, 2023Safaricom Ethiopia currently has almost 3 million users, the company said. Safaricom reportedly paid $150 million for its license and expects to launch M-Pesa service in the second half of the year.

Source: Ethiopian News May 11, 2023 21:45 UTC