Safaricom has announced its plans to invest $300 to $350 million in its Ethiopia operations for the financial year 2024 (FY24), which will include the launch of its mobile money platform, M-Pesa. The telecom operator, having paid $150 million to secure the mobile money license, expects the M-Pesa launch to take place in the coming weeks.

“Safaricom Ethiopia is the biggest investment Safaricom Plc has made. We are the majority shareholder, and we have other minority shareholders. And every one of us is committed to ensuring the long-term success of Safaricom Ethiopia,” said Peter Ndegwa, CEO of Safaricom Plc, during a press briefing held today in Kenya. “That’s why we are promising…

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