Safaricom announced today its M-PESA services in Ethiopia have transacted $287 million (16 billion birr) within three months of its launch. The telecom company disclosed this information during the release of its 2023/2024 Half-Year Results.
The mobile money service has garnered 1.16 million active customers, established 22,000 agents, and onboarded 12,400 businesses. Additionally, the platform has facilitated 2 million transactions so far.
“This validates our belief in Ethiopia’s potential to significantly bolster our future growth. We are committed to sustaining this momentum in the second half of the year,” said Safaricom CEO Peter Ndegwa.
M-PESA was introduced in Ethiopia on August 16, following the issuance of the Payment Instrument Issuer License by the National Bank of Ethiopia. The app is currently available in five languages for Android devices on the Play Store and will soon be accessible on iOS devices.
Safaricom Ethiopia Telecommunications confirmed the figure and…
