NAIROBI, April 28 (Xinhua) -- Kenya's mobile phone operator Safaricom said Wednesday it plans to pursue entry of its mobile money service M-Pesa into Ethiopia as part of its international expansion drive.
Outgoing Safaricom CEO Michael Joseph told an investor briefing in Nairobi that Safaricom and Vodacom, one of its investors, have acquired the M-Pesa brand, including product development and support services and the acquisition now will enhance further expansion into the Africa market.
"We will pursue opportunities in Ethiopia but all decisions will depend on decisions of the Ethiopian government which we expect later this year," Joseph said when the telecom announced 2019/2020 financial full-year results.
The development comes after Ethiopia said early this month it will allow non-financial institutions to offer mobile money services, opening up the business to telecommunication companies including the state-owned monopoly Ethio Telecom.
Ethiopia has also announced plans to liberalize the telecom industry by offering two new licenses and selling a stake in Ethio Telecom. Enditem
