Sharp Daily
No Result
View All Result
Monday, June 23, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home Investments

Safaricom’s Plan to Launch M-Pesa Services in Ethiopia Completed

Dennis Otsieno by Dennis Otsieno
May 11, 2023
in Investments
Reading Time: 1 min read
Safaricom

Safaricom. Photo/ Courtesy]

Safaricom PLC has announced plans to launch mobile money in the federal republic of Ethiopia and make the unit its subsidiary.

Safaricom is 35 percent owned by the Kenyan government and 40 percent by South Africa’s Vodacom, while the remaining shares are publicly listed.

In a public notice to shareholders on Thursday ahead of its full-year results, the telco said it has completed talks with the Ethiopian government on how to set up the mobile financial service.

“In compliance with applicable legislations, the consortium through Safaricom Ethiopia will set up a new entity, Safaricom ET MSF to acquire Payment Instrument Issuer License (PIIL) and will offer mobile financial services under the M-Pesa brand,” the telco said in a notice.

RELATEDPOSTS

Safaricom 2025 financial triumph and effect on Kenyan economy

May 28, 2025

Safaricom’s legal battle against journalist sparks press freedom concerns

March 27, 2025

It added that by virtue of holding the controlling stake in the consortium, the Ethiopian business will be a subsidiary of Safaricom PLC after shareholders’ approval during the annual general meeting slated for July 29.

Read: Safaricom-KCB Bank Partners To Roll Out Fuliza Ya Biashara

Safaricom launched in the Ethiopian market in October last year, becoming the first private operator in one of Africa’s largest telecoms markets. State-owned Ethio Telecom had until then enjoyed a monopoly in Ethiopia, Africa’s second-most populous country with an estimated 118 million people.

In 2021, as part of plans to revamp the telecommunications sector, Ethiopia issued a tender to award two licences to private telecommunication operators. One licence was awarded to a consortium led by Safaricom, which offered USD 850 million and promised to invest USD 8.5 million over 10 years.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

Kenya Records Surging Cases of Cybercrime – KNBS

Next Post

Kenya Shilling to Continue Depreciating- Absa Bank Report

Dennis Otsieno

Dennis Otsieno

Related Posts

Investments

Investor shift to long term bonds drives oversubscription in CBK’s reopened auction

June 19, 2025
Analysis

Your First Investment should be an emergency fund with Cytonn Money Market Fund

June 16, 2025
Investments

Contrarian investing in Kenya.

June 13, 2025
Investments

Policies shaping Kenya-Tanzania energy collaboration

June 10, 2025
Investments

Navigating inflation and currency risks in African investments

June 10, 2025
Investments

A guide to investing in Africa

June 10, 2025

LATEST STORIES

Parliament slashes tax on digital asset trades: What this means for investors

June 23, 2025

Understanding Joint Ventures: A strategic tool in modern business

June 23, 2025

How bushy can a bush safari get?

June 20, 2025

Understanding SPVs

June 20, 2025

Why small investments are a power move

June 20, 2025

Social consequences of the tax relief for gamblers

June 20, 2025

How E-Tendering can reshape public procurement in Kenya

June 20, 2025

Unlocking long-term wealth with the power of compounding

June 19, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024