Safaricom has expanded its M-PESA Global service to Ethiopia, enabling customers to conduct mobile money transactions between Kenya and Ethiopia
This move aims to boost mobile money usage and penetration in Ethiopia, stimulating local economies and creating new opportunities for both individuals and businesses in the region.
Esther Waititu, chief financial services officer of Safaricom Kenya, stated, “This collaboration resonates with our commitment to deliver innovative financial solutions that cater to the evolving needs of our customers. By making cross-border transfers more accessible, efficient and cost effective, we are empowering individuals and businesses across the region.”
Cross-border expansion
With this partnership, customers in Kenya can use M-PESA International Remittance to send money to those using M-PESA in Ethiopia, utilising their M-PESA wallets for the transactions.
During the signing ceremony, Elsa Muzzolini, chief financial services officer at Safaricom Ethiopia, remarked, “We are thrilled to work with M-PESA Kenya especially at a time of foreign exchange policy reforms made by the National Bank of Ethiopia (NBE) that encourages a growing number of Ethiopian diaspora and business owners are embracing digital payments to send money to their loved ones and fund their operations.”
She further emphasised, “Our M-PESA Ethiopia customers should now be able to receive safe and affordable transfers from M-PESA Kenya thanks to this collaboration, which will further promote the region's adoption of digital payments. We look forward to a successful collaboration.”
The expansion of M-PESA Global into Ethiopia marks a crucial step in advancing financial integration across East Africa and fostering economic development. Key beneficiaries include Ethiopians residing and working in Kenya, as well as Kenyans in Ethiopia. Beyond Ethiopia, M-PESA users can send and receive money to over 190 countries, making it a preferred solution for both individual and corporate transactions.
M-PESA Global now available in Ethiopia
Safaricom extends M-PESA Global to Ethiopia, enabling seamless mobile money transfers between Kenya and Ethiopia to boost regional economies. (Image source: Adobe Stock)
