This will let it bring its M-Pesa mobile money service into the country. With this permission, Safaricom will compete directly with Telebirr, Ethiopia’s state-owned mobile money service. Anwar Soussa, CEO of Safaricom Ethiopia, was optimistic about the possibility of M-Pesa in Ethiopia. The Ethiopian government revised its proclamation on national payment systems last year to let foreign telecommunications companies provide mobile banking services within the country. The Vodafone Group, Safaricom PLC, Vodacom Group, Sumitomo Corporation, and British International Investment are all part of an international group that backs Safaricom Ethiopia.

Source: Ethiopian News May 17, 2023 16:54 UTC