Safaricom’s M-Pesa Ethiopia has seen significant growth since its launch, with revenue reaching Sh44.9 million in just four months of operation, demonstrating the potential for financial inclusion in the country.
With registered M-Pesa customers rising to 3.1 million and transactions totaling Sh18.5 billion, the service is poised to play a key role in Ethiopia’s National Financial Inclusion Strategy, aiming to increase banking services adoption to 70% of adults by 2025.
The telco’s CEO, Peter Ndegwa, highlighted the positive momentum, noting nine million gross customer additions and 4.3 million 90-day active customers as of December 2023. Safaricom’s commitment to expanding network coverage and offering various M-Pesa services underscores its vision to establish a trusted and innovative brand in Ethiopia, driving digital transformation and financial empowerment for the population.
