Private Telco Enters Mobile Money Service

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Private Telco Enters Mobile Money Service

Aug 21 , 2023

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Safaricom Ethiopia launches its M-Pesa mobile money service integrating it with nine commercial banks. Hibret Bank announced its partnership where the 475 Bank branches function as super-agents for M-Pesa registration, deposit mobilisation and cash withdrawals. Shops and supermarkets across the country have been draped with promotional logos of the service while Safaricom announced its M-Pesa service last week, three months after receiving the Payment Instrument Issuer License from the central bank. It currently operates in five languages. Ethiopian authorities granted the permit for mobile money services to Safaricom, an international consortium led by Kenya's Safaricom Plc, in October during its service launch attended by Kenya's President, William Ruto.

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