Safaricom signs major M-PESA deal in Ethiopia

Safaricom has partnered with Onafriq so that its customers in Ethiopia can send and receive money digitally from countries all over the world.Ethiopia has been steadily embracing digital technologies after many years of being closed off to foreign investment.

The new deal between the Vodacom-owned Safaricom and Onafriq will see Ethiopian customers of Safaricom be able to send and receive funds from different parts of the world through M-PESA. According to an announcement, this was made possible after authorisation was received from the National Bank of Ethiopia.. Previously only Ethio Telecom serviced the country’s 120 million mostly unbanked population. This latest deal marks another step in the acceptance of foreign digital technologies.

“Our goal is to make payments easier, and the incorporation of International Money Transfer services into M-PESA serves that purpose perfectly. Ethiopia generates more than five billion USD in remittances annually and this partnership will provide the Ethiopian Diaspora with an easy and fast formal channel to send money to their loved ones in Ethiopia,” enthuses Paul Kavavu, General Manager at Safaricom Ethiopia.

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