Safaricom, the leading mobile phone operator in the Eastern Africa region, has posted 3.1 million M-PESA customers since its launch in Ethiopia. According to Safaricom Q3 2023 update on Ethiopia, for the period ended 31 st December 2023, Ethiopia now has 26.4 thousand M-PESA agents and 43.1 thousand merchants. December 2023, Ethiopia now has 26.4 thousand M-PESA agents and 43.1 thousand merchants. Funding of the Safaricom Ethiopia subsidiary is through shareholder equity, deferred vendor payments, and third-party borrowings. Safaricom M-PESA ET is a wholly owned subsidiary of Safaricom Telecommunications Ethiopia PLC, apart from a nominal share held by the Consortium holding company, Global Partnership of Ethiopia BV.

Source: Ethiopian News February 07, 2024 15:04 UTC