The Nationwide Financial institution of Ethiopia (NBE) has issued a cellular cash service license to Safaricom M-Pesa Cellular Monetary Service, it announcement Might 11. Beforehand, solely Telebirr, which is a part of the general public Ethio Telecom community, operated on this market.

Safaricom based mostly in Kenya was additionally the primary firm to interrupt Ethio Telecom’s monopoly on Ethiopian cell phone service in October, by its subsidiary Safaricom Telecommunications Ethiopia. The NBE launched laws to the Parliamentary Meeting in early 2022 to make non-public service doable.

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