Kenya: Safaricom Expands M-Pesa Global Payment Platform to Ethiopia

 Kenyans will now be able to send money to Ethiopia using M-Pesa through Safaricom Kenya and its Ethiopian subsidiary.

The expansion of the M-Pesa Global service, which is a Safaricom platform that allows registered M-Pesa users to send and receive money globally, aims to drive mobile money use and penetration in Ethiopia, boosting local economies.

"This collaboration resonates with our commitment to deliver innovative financial solutions that cater to the evolving needs of our customers," Safaricom Kenya Chief Financial Services Officer Esther Waititu said.

"By making cross-border transfers more accessible, efficient and cost effective, we are empowering individuals and businesses across the region."

The service, which will be available on the M-Pesa wallet, will also be available for all Safaricom customers in Ethiopia via the M-Pesa International Remittance.

In addition to Ethiopia, M-Pesa customers are also able to send and receive money in over 190 countries.

"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) that 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," Elsa Muzzolini, Safaricom Ethiopia Chief Financial Services Officer, added.

"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."

SOURCE: CAPITALFM