“M Pesa” requested to pay $150 million to Ethiopia
One of Africa’s leading digital money service provider company, M Pesa, which started providing telecom services in Ethiopia, enters the Ethiopian market, requested by National Bank of Ethiopia to pay 150 million dollars for the license fee.
Safaricom Ethiopia has requested permission from Kenyan government to launch M-Pesa, a successful mobile money service in Ethiopia.
M-Pesa will be the first foreign money transfer service provider if it starts operations in Ethiopia.
Kenyan newspapers reported that the National Bank of Ethiopia will consult today with officials from Ethio Telecom, Safaricom, BAMC sector and organizations that provide payment services on the draft prepared by foreign institutions that provide money transfer services.
M-Pesa, which is planning to enter the Ethiopian market, allows you to deposit money, receive money, make payments, transfer bank deposits to your phone, send money to other M-Pesa users and conduct other financial transactions.
Launched in 2007 by Safaricom and Vodafone, M-Pesa in Kenya is managed by the country’s national bank.
The name of the service is Mpesa, while “M” stands for Mobile and “Pesa” means money in Swahili language
M-Pesa has gone beyond the neighboring country of Kenya where it was launched in the other East African country Tanzania, Democratic Republic of Congo, Egypt, Ghana, Lesotho and Mozambique.
