National bank of Ethiopia grants mobile money license to Safaricom
National Bank has announced that it will soon give license for mobile money transfer to Safaricom
The National Bank has stated that Safaricom Ethiopia, which has obtained the first private telecom service license in Ethiopia, will soon be granted a license to provide mobile money transfer services.
National Bank Governor Mr. Mamo Mehretu said that the government is taking various measures to modernize and strengthen the financial sector.
He also mentioned that non-banking telecommunication companies, fintech and payment agents have been invited to participate in the payment service sector.
Mr. Mamo added that, Safaricom Ethiopia, the first private telecom service provider in the country to be licensed and started operations, will soon receive the license to provide mobile money services.
This will allow Safaricom, which made its debut in Kenya, to introduce the widely known M-Pesa mobile money transfer and payment service in Ethiopia.
Safaricom Ethiopia started its telecom service a year ago and will expand its service in 25 Ethiopian cities by next April.
Currently, Ethio Telecom, which is fully owned by the government, is providing mobile money services through tele Birr application.