Safaricom Ethiopia makes $43,368 in M-PESA revenue three months after launch

Safaricom Ethiopia has made KES 7.2 million ($43,368) in M-PESA revenue three months after it launched in August 2023. 

M-PESA Ethiopia has a customer base of 1.2 million users, with 67% actively using the product. The mobile money product registered 22,700 M-PESA agents who have facilitated transactions with a total volume of 2 million and a value of KES 43.7 billion ($287 million). In Kenya, where M-PESA has been in operation since 2007, revenue grew by 16.5% year-on-year (YoY) to KES 66.23 billion ($436 million), aided by a 12.0% YoY increase in average revenue per user (ARPU) to KES 344.05 ($2.26).

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