Safaricom Telecommunications Ethiopia PLC, CEO Anwar Soussa, announced Safaricom Ethiopia is putting the final touches on introducing M-Pesa in the horn of Africa market starting April this year while Speaking during the Safaricom, Investors Day held on 16th February 2023 in Nairobi.
“Our growth trajectory is even more exciting for us as we look forward to offering financial services through M-PESA. We are finalizing our commercial and technical readiness and we expect to launch operations within the upcoming financial year,” he said.
Anwar also mentioned in his business update that as of February 2023, Safaricom Telecommunications Ethiopia PLC had onboarded 28,000 retailers, 103 distributor shops, and 5,000 acquisition agents.
Read:20,000 Customers Joining Safaricom Ethiopia Daily – Peter Ndegwa
He continued to add that it had penetrated about 10% of the population, equivalent to over 11 million people, and had 847 network sites in 25 cities. The company’s client gross additions had also surpassed the 2 million mark.
Safaricom Ethiopia launched its network and services in the city of Hawassa as it also expanded its services to the cities of Assela, Jigjiga, Sodo, and Dilla.
Safaricom Ethiopia now has a network presence in 21 cities across the nation, including Dire Dawa, Harar, Haramaya, Adama, Bahir Dar, Bishoftu, Mojo, Debre Birhan, Awoday, Gondar, Addis Abeba, Sebeta, Dessie, Kombolcha, Jimma, Shashemene, Dilla, Sodo, Jigjiga, Assela, and Hawassa
Safaricom registered its first revenue from its Ethiopia operations in its first reporting cycle since the launch of its commercial operations.
Read:Safaricom Ethiopia Switches On Network In 5 more Cities
Safaricom Ethiopia Service Revenue for the period ended September 30th, 2022 was Ksh9.1 million while total revenue including handsets sales was Ksh98.3 million.
Safaricom CEO Peter Ndegwa noted that Safaricom had invested over USD 598 million in Ethiopia operations and was encouraged by the early uptake of its services, great customer feedback on the quality of their data experience, and the revenue contribution by the Ethiopia unit.
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