Safaricom has announced the expansion of the M-Pesa Global service to Ethiopia.
In a press release dated Monday, October 14, the communication company revealed that it will now be possible to send money from Kenya to Ethiopia via the mobile money platform.
Meanwhile, those in Ethiopia will be able to send money through the M-Pesa International Remittance.
Officials at Safaricom explained that the move would also help grow the mobile money market in Ethiopia.
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“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," Safaricom Kenya’s Chief Financial Services Officer Esther Waititu stated.
On her part, Elsa Muzzolini, Safaricom Ethiopia’s Chief Financial Services Officer noted that the move would boost trade between the two countries given that there were Kenyans living in Ethiopia and vice versa.
"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) which 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 stated.
“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,”
Safaricom has been operating in Ethiopia since 2022.
