The sports category has moved to a new website.

Kenya's Safaricom in 'advanced talks' to take M-Pesa to Ethiopia

M-Pesa has close to 30 million users.

Britain’s Vodafone, Safaricom’s parent company, will license the use of the M-Pesa trade name to an Ethiopia-based bank while Safaricom will host the servers in Nairobi,a source intimated to the news agency.

Ethiopia’s state telecommunications monopoly, Ethio telecom, will carry the service, the source added.

Started in 2007, M-Pesa has close to 30 million users.

ADVERTISEMENT

The mobile money service contributes 28 per cent of Safaricom’s service revenue from 20.9pc in FY 2015, highlighting its central position as a key growth driver alongside mobile data, and displacing traditional voice and SMS.

A number of Nairobi-based firms have in recent years expressed their interest in setting foot in Ethiopia owing to its huge population of over 100 million people and lack of economic development.

Ethiopia’s banking sector is currently state-controlled and dominated by Commercial Bank of Ethiopia, which holds around of 70 percent of assets in the sector.

ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

African countries with the highest divorce rate

African countries with the highest divorce rate

10 African cities with the highest crime index at the start of 2024

10 African cities with the highest crime index at the start of 2024

Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]

Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]

Diwali 2022: Is Monday a public holiday in Kenya?

Diwali 2022: Is Monday a public holiday in Kenya?

Akothee finally reveals reasons for separating from Omosh 1 month after wedding

Akothee finally reveals reasons for separating from Omosh 1 month after wedding

Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]

Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]

Details of Ngina Kenyatta's luxurious restaurant

Details of Ngina Kenyatta's luxurious restaurant

Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama

Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama

Nigerian royal dignitaries, including four kings and a queen, expected to attend Museveni’s 50th wedding anniversary celebrations

Nigerian royal dignitaries, including four kings and a queen, expected to attend Museveni’s 50th wedding anniversary celebrations

ADVERTISEMENT