Safaricom is targeting to sign up at least two million customers on its M-Pesa mobile money service in the Ethiopian market by the end of the current financial year that is set to close in March 2024. The telco said it is also on course to meet its earlier target of onboarding 10 million subscribers by the same date.
Safaricom Chief Finance Officer Dilip Pal in a status update webinar, said the company sees optimal competition with rival Ethio Telecom (Ethiotel) when the telco business is combined with mobile money services.
Safaricom has lined up plans to launch M-Pesa in the populous country before the close of the quarter ending September this year to take on Ethiotel’s Telebirr service, which was unveiled in May last year.
Mr Pal said it will take a shorter time for M-Pesa to gain traction in Ethiopia than it did in Kenya, where it was launched in 2007, due to the huge demand.
Visits: 131
No Comment Found.