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HomeNewsAfricaEthiopia’s digital finance sector hopeful as it awaits foreign competition

Ethiopia’s digital finance sector hopeful as it awaits foreign competition

Despite the absence of a governing legal framework, Finance Minister Ahmed Shide announced that the country’s first-ever private telecoms operator, Safaricom, has been given the nod to introduce its M-Pesa mobile money service to the Ethiopian market.

It is a milestone for the fast-evolving and increasingly lucrative domestic DFS scene.

The number of active mobile money accounts has doubled to 43 million over the past year – placing Ethiopia among the largest mobile money networks globally.

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