Safaricom’s M-PESA unlocks Kenya-Ethiopia transfers

October 14, 2024 Newsroom

M-PESA Kenya customers can now make mobile money transfers to clients using M-PESA Ethiopia via the M-PESA International Remittance feature. The move follows Safaricom deal to extend its M-PESA Global service to Ethiopia allowing customers make mobile money transactions between the two countries.

Through this collaboration, the telco said customers in both countries will only require their M-PESA wallets to enjoy the service.

“This collaboration resonates with our commitment to deliver innovative financial solutions that cater to the evolving needs of our customers. By making cross-border transfers more accessible, efficient and cost effective, we are empowering individuals and businesses across the region,” explained Safaricom Kenya’s Chief Financial Services Officer, Esther Waititu.

Through this expansion, the two companies added that they aim to increase mobile money use and penetration across Ethiopia thereby boosting local economies as well as creating opportunities for individuals and companies.

“We are thrilled to work with M-PESA Kenya especially at a time of foreign exchange policy reforms made by the National Bank of Ethiopia (NBE) that encourages a growing number of Ethiopian diaspora and business owners are embracing digital payments to send money to their loved ones and fund their operations,” added Elsa Muzzolini, Safaricom Ethiopia’s Chief Financial Services Officer.

“Our M-PESA Ethiopia customers should now be able to receive safe and affordable transfers from M-PESA Kenya thanks to this collaboration, which will further promote the region’s adoption of digital payments. We look forward to a successful collaboration,” she added.

This expansion of M-PESA Global to Ethiopia is a step towards strengthening financial integration in East Africa and promoting economic growth. Key beneficiaries of the latest development include, Ethiopians living and working in Kenya, Kenyans living and working in Ethiopia.

In addition to Ethiopia, M-PESA customers can also send and receive money to over 190 countries making it the mobile-money proposition of choice catering for both individual and corporate transactions.