Companies Safaricom launches M-Pesa in Ethiopia amid civil unrestA customer at an M-Pesa outlet. Safaricom Ethiopia’s Mobile Financial Services, the company that will be running M-Pesa, was unveiled on Wednesday as it seeks to replicate the success that has been seen in Kenya. “We are excited to go live with M-Pesa in Ethiopia and start providing mobile financial services to our customers,” said Stanley Njoroge, interim CEO of Safaricom Ethiopia. They will also be able to buy airtime and transfer money between their bank accounts and mobile money wallets. Read: Safaricom adds 675 new jobs after Ethiopia entryThe Ethiopia unit generated Sh1.83 billion in revenue but the operating costs came in at Sh19.95 billion, leading to a loss after tax of Sh12.

Source: Ethiopian News August 17, 2023 07:22 UTC