Safaricom has extended its M-PESA Global service to Ethiopia, enabling seamless mobile money transactions between Kenya and Ethiopia. This strategic expansion aims to increase mobile money adoption, drive financial inclusion, and boost economic activity. This will be achieved by creating new opportunities for individuals and businesses across the region.
Empowering Regional Economies Through Innovation
“This collaboration resonates with our commitment to deliver innovative financial solutions that meet 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.” Said Esther Waititu, Safaricom Kenya’s Chief Financial Services Officer.
Through the M-PESA International Remittance platform, customers in Kenya can now send money directly to M-PESA wallets in Ethiopia. This service makes it easy for users in both countries to transact using their M-PESA wallets. It enhances financial accessibility across borders.
Read About Streamlining Money Transfers to Ethiopia
Adapting to Policy Changes and Market Needs
“We are thrilled to partner with M-PESA Kenya. Especially at a time when the National Bank of Ethiopia [NBE] has introduced foreign exchange policy reforms. These reforms are encouraging more members of the Ethiopian diaspora and business owners to embrace digital payments for remittances and operational funding.” Said Elsa Muzzolini, Safaricom Ethiopia’s Chief Financial Services Officer.
“Thanks to this collaboration, our Ethiopia customers can now receive secure, affordable transfers from Kenya. This further promotes digital payment adoption in the region.”
Driving Financial Integration and Growth in East Africa
This expansion of M-PESA Global marks a key milestone in fostering financial integration within East Africa, promoting economic growth, and facilitating cross-border business operations. Ethiopians working and living in Kenya and Kenyans living in Ethiopia will benefit from this service in addition to various segments. .
M-PESA’s extended reach also shows its position as a leading mobile money platform, allowing customers to send and receive money to and from over 190 countries. This latest collaboration between Safaricom Kenya and Safaricom Ethiopia not only strengthens financial connectivity but also positions M-PESA as a catalyst for economic development across East Africa.
