Safaricom Ethiopia has kick-started the testing phase of its revolutionary mobile money application,
M-Pesa, shortly after securing the official license from the National Bank of Ethiopia (NBE). The
highly anticipated launch of M-Pesa services in Ethiopia is scheduled for September 2023.
The initial phase of testing involves selected employees, with plans to expand to customers in the
near future, as reported by The Ethiopian Reporter.
After securing its telecom license for USD 850 million last year, Safaricom Ethiopia acquired the
mobile money license for an additional USD 150 million in license fees.
Once operational, M-Pesa is expected to face competition from Telebirr, the mobile payment service
owned by ethio telecom.
As of June 30, 2023, ethio telecom, a state-owned telecommunications company, had amassed 72
million subscribers, including 34.3 million users of the Telebirr mobile payment service, which was
launched in May 2021.