• Home
  • Business News
  • Weekly Reviews
  • Market Reports
Sunday, June 8, 2025
  • Login
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports
  • Global Markets
  • Commodities
  • Corporate News
No Result
View All Result
The Trading Room
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports
  • Global Markets
  • Commodities
  • Corporate News
No Result
View All Result
The Trading Room
No Result
View All Result
Home Corporate News

Safaricom Granted License to Operate M-PESA in Ethiopia

Githere Eddie by Githere Eddie
in Corporate News, Featured
Reading Time: 1 min read
A A
0
Peter Ndegwa, Chief Executive Officer at Safaricom Plc. PHOTO|POOL

Peter Ndegwa, Chief Executive Officer at Safaricom Plc. PHOTO|POOL

Share on FacebookShare on Twitter

Safaricom Telecommunications Ethiopia has today officially been granted the license to operate mobile money services in Ethiopia. The license comes seven months after the commercial launch of GSM services.

RELATED POSTS

Equity Group Leads Trade and Investment Mission to Uganda and Tanzania

Equity Group Q1 Profit Falls 4pc to KES 15.4bn

Safaricom to Invest KES 500Mn in Bid to Bolster AI Infrastructure

The M-PESA license will open the country to the world’s largest mobile payment system and Africa’s largest Fintech, and the world’s first mobile money transfer system.

Peter Ndegwa, Safaricom PLC CEO said: “We are excited that this is a great milestone following our entry into Ethiopia. This positions us to provide essential financial services to the Ethiopian population. We are looking forward to launch and roll out the service over the next few months.”

M-PESA empowers over 30 million customers to transact, save or borrow money through their mobile phones. M-PESA catalyzed financial inclusion in Kenya to 84% from a low of 26.7% in 2006 according to the 2021 FinAccess Survey and generated over KES 117.2 billion ($886 million) in revenue in FY23.

He added: “Since the commercial launch in October, the brand is visible, deeply rooted in the Ethiopia and quickly becoming in every sense fabric of the society. The potential for Ethiopia is immense and we look forward to the future with optimism and excitement.”

In the period under review, Safaricom Telecommunications Ethiopia added close to 3 million customers and built a distributor network of over 114 outlets, delivered an award-winning premium quality network in 22 cities and regions; with close to 1300 network sites, and over 900 staff, 81% of whom are Ethiopians.

Mr. Ndegwa spoke during the announcement of the Full Year 2022/2023 results, which saw net income increase by 3.0% to KES 74.5 billion for Safaricom Kenya.

Also Read: Safaricom Telecommunications Ethiopia PLC Gears Up for Commercial Launch

Buy JNews
ADVERTISEMENT

 

Post Views: 1,038
Tags: EthiopiaPeter NdegwaSafaricom PlcSafaricom Telecommunications Ethiopia
Previous Post

KCB & NBK Sign Distribution Deal with Sanlam Life Insurance

Next Post

KCB signs African Cross-Border Payment deal to Support Customers in Africa.

Githere Eddie

Githere Eddie

Related Posts

Part of the delegates who participated in the 2025 Tanzania – Uganda Trade and Investment roadshow, during a site visit to GALCO LIMITED, a member of GSM Group Of Companies, in Dar es Salaam.
Corporate News

Equity Group Leads Trade and Investment Mission to Uganda and Tanzania

by The Trading Room
Equity Group
Earnings Update

Equity Group Q1 Profit Falls 4pc to KES 15.4bn

by Felix Ochieng
Cynthia Kropac(R) Chief Enterprise Business Officer Safaricom PLC receives H.E. Minister of Communications and Technology in Somalia - Mohamed Adam to the Safaricom Business Booth. Looking on is H.E. Hon. William Kabogo, Cabinet Secretary, Ministry of Information Communication and Digital Economy in Kenya - during the ongoing Connected Africa Summit 2025 Launch.
Corporate News

Safaricom to Invest KES 500Mn in Bid to Bolster AI Infrastructure

by Rennie Odek
HF Group Plc CEO Robert Kibaara
Earnings Update

HF Group Posts Solid Growth as Q1 Pre-tax Profit Soar 112%

by Githere Eddie
Next Post
KCB Group Plc CEO, Paul Russo.

KCB signs African Cross-Border Payment deal to Support Customers in Africa.

CAPTION: Sama Vice President of Global Delivery, Annepeace Alwala.

Sama Identifies Kenya as an Ideal Machine Learning Investment Destination

Uber and Safaricom announced a partnership that will see riders across Kenya pay for trips using M-PESA.

Uber and Safaricom Partner to Launch M-PESA Payments and Disbursements

Advertisement Banner Advertisement Banner Advertisement Banner
ADVERTISEMENT

Most Viewed Posts

  • Tea Farmers Set to Receive Kes 28 Billion as Final Bonus Payment (4,120)
  • 4 Things You Can Do With the Cashlet App to Achieve Your Financial Goals (2,212)
  • Hilda Njeru Takes over at CDSC (2,082)
  • Safaricom Finally Launches eSIM: Here’s What You Need to Know (1,935)
  • KenGen Gets Nod to Sell 4 Million Tonnes of Carbon Credits (1,817)

Follow Twitter

About Us

Follow Us

Popular Tag

Africa Asian - Pacific Stocks Asian Stock Markets Australian Stocks Bitcoin Bonds Kenya Bonds Trading in Kenya Brent Brent Crude Capital Markets Authority Central Bank of Kenya Corona Virus Pandemic Crude Oil Cryptocurrencies Derivatives NSE Derivatives Trading in Kenya Dow Jones Industrial Average Ethereum European Stock Markets Global Economy Global Markets Hang Seng Index Investing in Kenya Investor Briefing Jakarta Stock Exchange Kenya Economy Kospi index MSCI Index Nairobi Securities Exchange NASDAQ New York Stock Exchange Nikkei N225 NSE Oil Futures S&P 500 Index Safaricom Plc Shanghai Composite Shenzhen component spotlight Stock Market Report Stock Market Review U.S. Stock markets US oil Wall Street WTI Oil Index

Recent News

Part of the delegates who participated in the 2025 Tanzania – Uganda Trade and Investment roadshow, during a site visit to GALCO LIMITED, a member of GSM Group Of Companies, in Dar es Salaam.

Equity Group Leads Trade and Investment Mission to Uganda and Tanzania

HF Group Plc CEO Robert Kibaara

Opinion: HF Group Delivering Transformation and Strategic Growth

  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 The Trading Room Limited.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
TSLA 
$295.14  3.67%  
GME 
$29.58  0.44%  
MSFT 
$470.38  0.58%  
AAPL 
$203.92  1.64%  
AMC 
$3.40  0.00%  
ABNB 
$140.64  2.44%  
GOOGL 
$173.68  3.25%  
AMZN 
$213.57  2.72%  
No Result
View All Result
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports

© 2025 The Trading Room Limited.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?