In a groundbreaking move aimed at fostering financial inclusion and regional integration, Safaricom has extended its M-Pesa Global service to Ethiopia.
This strategic expansion allows customers to seamlessly transfer funds between the two countries, paving the way for a more interconnected East African market.
Safaricom Kenya's Chief Financial Services Officer, Esther Waititu, emphasized the company's commitment to providing innovative financial solutions that meet the evolving needs of its customers.
"By making cross-border transfers more accessible, efficient, and cost-effective, we are empowering individuals and businesses across the region," Waititu stated.
The partnership between Safaricom Kenya and M-Pesa Ethiopia enables customers in both countries to send and receive money using their M-Pesa wallets.
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This eliminates the need for traditional banking channels, offering a convenient and secure alternative.
Elsa Muzzolini, Safaricom Ethiopia's Chief Financial Services Officer, expressed her enthusiasm for the collaboration, particularly in light of recent foreign exchange policy reforms implemented by the National Bank of Ethiopia.
"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," Muzzolini said.
"We look forward to a successful collaboration."
The expansion of M-Pesa Global to Ethiopia marks a significant milestone in strengthening financial integration within East Africa.
It is expected to benefit Ethiopians living and working in Kenya, as well as Kenyans residing in Ethiopia.
Beyond Ethiopia, M-Pesa customers can also send and receive money to over 190 countries, solidifying its position as the preferred mobile money solution for both individuals and businesses.
