Ethiopia has said it will grant Safaricom a licence to launch the M-Pesa mobile money services in the country.
This will make Safaricom the first foreign company to launch mobile money services in the Horn of Africa nation.
Minister Ahmed Shide said Thursday that the country amended its laws to allow foreign investments in mobile money services.
No other foreign company had been allowed to conduct such business in the country as Ethiopia did not have a law that allowed foreign operators like M-Pesa to acquire a licence.
Following the announcement, Kenyan President William Ruto, who is in Ethiopian capital Addis Ababa on an official tour, said he is happy with the move.
“When I came to Ethiopia, the people of Kenya gave me an assignment to make this service allowed. I thank the Ethiopian government for allowing Safaricom to provide this service,” he said.
On Thursday, Safaricom launched nationwide internet service at the Friendship Square.
More details to follow...