Safaricom in ‘advanced talks’ to take MPesa to Ethiopia

Safaricom is in “advanced talks” with the Ethiopian Government to introduce MPesa to Ethiopia, a market of 100 million people, Reuters has revealed.

Also Read: Safaricom profits hit Ksh.55B

In an exclusive report published on Tuesday, Reuters noted that Vodafone will license the use of the MPesa trade name to an Ethiopia-based bank.

Vodafone is Safaricom’s parent company and is based in Britain.

Safaricom is expected to host the servers in Nairobi, the source added.

According to the report, Ethio Telecom, Ethiopia’s State telecommunications monopoly, will carry the service.

MPesa has nearly 30 million users in Kenya and contributed to slightly over a third of the Safaricom’s total revenue.

This story is an exclusive report from Reuters.