M-PESA, Kenya’s leading mobile money platform, officially launched in Ethiopia on August 16, 2023.
This move came seven months after Safaricom Ethiopia began offering telecommunication services.
By December 2024, M-PESA had already attracted 10.8 million customers.
The platform aims to solve digital payment challenges in Ethiopia, particularly addressing issues related to the bulky Ethiopian Birr currency.
M-PESA’s focus in Ethiopia is to make financial transactions easier and more efficient.
The majority of users access the service through USSD, though there is a growing push to encourage app-based usage.
Future plans include introducing services like Fuliza, which offers short-term loans.
