Ethiopians may soon experience M-Pesa, the famous mobile payment service of Kenyan mobile phone operator Safaricom. According to sources quoted by Reuters, the telecom company has already reached a very advanced level of its negotiations, in this sense, with the authorities of the country.
For the Vodacom subsidiary, successfully entering the Ethiopian market, with a population of 100 million and facing a low rate of financial inclusion, would be the guarantee of sustained financial growth for the coming years.
Currently, Safaricom, which already dominates the Kenyan market, in the segments of voice, data and Mobile Money is looking for new markets to conquer. For a long time, Ethiopia has remained a tightly closed market for telecom investors and value-added service providers. But with the opening advocated by his Prime Minister Abiy Ahmed, business opportunities are on the horizon.
Safaricom is not the only company that is eyeing the Ethiopian telecom market. MTN and Vodafone, who were waiting for the slightest opportunity to rush into it, clearly expressed their intention on June 5, 2018, after the government announced its intention to open Ethio Telecom’s capital to private investors.