The launch comes just months after the operator gained a license from the National Bank of Ethiopia, following pilot testing of the service.
The offering is available in five languages and offers its users a range of financial tools including sending and receiving money within the country and abroad.
The Kenyan operator launched in Ethiopia in 2022, adding over two million active users to its voice and data network in that time.
Paul Kavavu, general manager of M-PESA said that the platform will target the unbanked population in Ethiopia, leveraging smartphone penetration in the country.
“In Kenya, [M-PESA] has enabled the growth of financial inclusion that over 90% of the adult population has access to mobile banking. We look forward to replicating this success in Ethiopia,” he added.
Stanley Njoroge, interim chief executive at Safaricom Ethiopia added that he expected the service would “fast track digital inclusion and promote innovation” in the country.
Safaricom Ethiopia is the first foreign company to be issued with a mobile money license in the country’s history.
