Safaricom’s M-Pesa to power Ethiopia-bound remittances
Mobile phone network Safaricom’s M-Pesa mobile money network, which launched in Kenya in 2007 with Vodafone, will soon support remittances sent to Ethiopia, according to a press release. Through an agreement Safaricom recently signed with South Africa-based digital payments network Onafriq, M-Pesa users may receive remittances sent through their mobile phones from various key global markets. M-Pesa, which enables Safaricom users to transact via a mobile phone without having a bank account, also operates in Tanzania, South Africa, Ghana, Mozambique, Egypt, Afghanistan and Lesotho. Safaricom received authorization last year from the National Bank of Ethiopia to start a remittance service. Onafriq has digital banking operations in 40 African countries.
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