Safaricom, East Africa’s largest telecom operator led by Kenyan businessman Peter Ndegwa, announced on Monday the launch of M-PESA Global, expanding its well-known mobile money network into Ethiopia. The move intends to improve regional financial inclusion and enhance cross-border economic activity.
The service would enable frictionless cross-border money transfers between Kenya and Ethiopia, bringing crucial financial solutions to individuals and businesses on both sides. This project is part of Safaricom’s overall plan to strengthen its position as a regional telecom leader.
Esther Waititu, Chief Financial Services Officer of Safaricom Kenya, underscored the company’s commitment to delivering accessible financial solutions. “This collaboration aligns with our mission to deliver efficient and cost-effective cross-border transfers, empowering individuals and businesses throughout the region,” Waititu told the crowd.
Customers may now make secure transactions directly from their digital wallets thanks to the M-PESA International Remittance feature. Safaricom Kenya and Safaricom Ethiopia have formed a cooperation to make financial transfers more economical and safe for users in both countries, encouraging more digital adoption.
Elsa Muzzolini, Safaricom Ethiopia’s chief financial services officer, stated that the service is consistent with Ethiopia’s evolving financial policies. “We are excited to partner with M-PESA Kenya as the Ethiopian diaspora and local businesses increasingly embrace digital payments,” according to Muzzolini. “Our customers can now receive affordable and safe transfers, accelerating the region’s digital payment adoption.”
Beyond Kenya and Ethiopia, M-PESA users will have access to worldwide transfers, allowing them to send and receive payments in 190 countries, cementing the platform’s position in enabling personal and corporate transactions.
Safaricom, founded in 1993 and based in Nairobi, has grown into a telecom behemoth that provides services ranging from mobile connectivity to cloud hosting and M-PESA transactions.
Under Peter Ndegwa’s leadership, Safaricom has expanded beyond its native market, boosting financial inclusion through strategic partnerships. The company’s recent $116 million Sustainability Linked Loan highlights its dedication to ESG standards.
Safaricom’s engagement with Mastercard strengthens its position as a pioneer in digital payments and cross-border remittances in Africa. The company’s rising presence in Ethiopia represents another milestone in its effort to promote financial integration and inclusiveness across the continent.