Safaricom Expands M-PESA Global to Ethiopia, Promoting Cross-Border Financial Inclusion

:Safaricom expands M-PESA to Ethiopia, enabling seamless cross-border payments, boosting financial inclusion, and fostering regional trade and economic growth.

By Charles Wachira
Safaricom, Kenya’s leading telecommunications provider, has launched its M-PESA Global service in Ethiopia, marking a significant step towards enhancing cross-border financial transactions between the two East African nations.

 This move is expected to foster economic growth, facilitate trade, and improve financial inclusion across the region.

M-PESA Global allows customers to make mobile money transactions seamlessly from Kenya to Ethiopia, offering a convenient and efficient way to transfer funds across borders.

 This expansion is part of Safaricom’s broader strategy to increase mobile money use and penetration in Ethiopia, leveraging its expertise in digital financial services.

Esther Waititu, Safaricom’s Chief Financial Services Officer, emphasized the strategic importance of this collaboration, stating, “This partnership underscores our commitment to delivering innovative financial solutions that meet the dynamic needs of our customers. By enhancing access to cross-border transfers, we are empowering individuals and businesses across the region.”

Benefits for Ethiopia:

The introduction of M-PESA Global in Ethiopia is expected to have several positive impacts:

1. Enhanced Financial Inclusion: It will enable more Ethiopians to access formal financial services, promoting financial inclusion and reducing reliance on cash transactions.
2. Economic Growth: Facilitating easier and more affordable cross-border transactions will stimulate economic activity, benefiting local businesses and contributing to overall economic growth.
3. Trade Facilitation: Simplifying cross-border payments will facilitate trade between Kenya and Ethiopia, supporting importers, exporters, and small businesses engaged in regional commerce.

Opportunities for Individuals and Businesses:

For individuals, the availability of M-PESA Global means easier remittances and financial support from family members abroad. Businesses can leverage the service for payments, improving efficiency and reducing transaction costs associated with cross-border trade.

Safaricom’s expansion into Ethiopia with M-PESA Global reflects a strategic alignment with Ethiopia’s economic development goals and underscores the company’s commitment to driving digital transformation across the region.

About Safaricom:

Safaricom PLC is Kenya’s leading telecommunications company and pioneer in mobile money services through its widely recognized M-PESA platform. With over 50 million customers and a robust network infrastructure, Safaricom continues to innovate and expand its services to meet the evolving needs of consumers and businesses in East Africa.

This expansion into Ethiopia represents a significant milestone in Safaricom’s regional strategy and reinforces its position as a key player in driving digital and financial inclusion initiatives across East Africa

Keywords:M-PESA Global Ethiopia:Safaricom expansion:Cross-border transactions:Financial inclusion:Mobile money East Africa