Addis Ababa, May 12, 2023 (Walta) The National Bank of Ethiopia (NBE) granted licenses to mobile money service, M-PESA of Safaricom.
This makes Safaricom the first foreign company to operate in mobile money service as well as telecommunication in Ethiopia. Safaricom CEO, Peter Ndegwa, says the services will be operational before the end of the year. He said, “We are now getting ready to launch Mpesa in Ethiopia over the next coming months”.
The decision came after the Ethiopian House of People’s Representatives approved the National Payment System Proclamation which allowed foreign companies to participate in payment system operations in Ethiopia in December 2022.
NBE also confirmed the issuance of M-PESA Mobile Financial Service Plc to Safaricom Telecommunications Ethiopia Plc, in a statement issued on May 11, 2023.