Safaricom expands its M-PESA money transfer service to Ethiopia

By Gloria Methri

Safaricom has expanded its M-PESA Global solution to Ethiopia, enabling customers to make mobile money transactions from Kenya to the East African country.

By leveraging this service expansion, the two companies aim to increase the use and penetration of mobile money across Ethiopia, boost the local economy and create opportunities for individuals and businesses across the region.

“This collaboration is consistent with our commitment to delivering innovative financial solutions that meet the evolving needs of our customers. With this service, we are making cross-border transfers and bill payments across the region more accessible, efficient and cost-effective than ever before. “This partnership benefits our customers who may need to send money to Ethiopia and provides businesses with a reliable and affordable option to transact,” he said Esther Waititu, Chief Financial Services Officer, Safaricom Kenya.

Speech during the signing ceremony: Elsa Muzzolini – Chief Financial Services Officer of Safaricom Ethiopia, stated: “The expansion of these services with M-PESA Kenya is timely as the revised Ethiopian Forex Policy encourages the diaspora and business owners to use digital payments to send money home and fund their businesses in Ethiopia. “ Thanks to this partnership, our M-PESA Ethiopia customers should now be able to receive secure and affordable remittances from M-PESA Kenya, which will further encourage the adoption of digital payments in the region. We look forward to a successful collaboration.”

In addition to Ethiopia, M-PESA customers can send and receive money to over 190 countries, making it the mobile payment offering of choice for both personal and corporate transactions.

In early September, Safaricom and Mastercard signed a partnership to accelerate the rollout of payment acceptance and cross-border remittance services in Kenya. This collaboration is expected to benefit over 636,000 merchants using M-PESA, Safaricom’s mobile money service. By embedding Mastercard’s omnichannel acceptance solutions into M-PESA’s merchant space, the partnership scales digital payments across the country.