Kenyans can now send money to Ethiopia through Safaricom’s M-Pesa platform following the telecommunications giant’s expansion of its M-Pesa Global service into the country. This move, which links Safaricom Kenya and its Ethiopian subsidiary, marks a significant step in increasing mobile money use and financial inclusion in the East African region.
M-Pesa Global is a Safaricom service that allows registered Mpesa users to send and receive money across borders. Safaricom, with the expansion to Ethiopia, is enabling cross-border transfers, promoting economic growth by making mobile financial services accessible to both individuals and businesses.
“This collaboration resonates with our commitment to deliver innovative financial solutions that cater to the evolving needs of our customers. With this service, we are making cross-border transfers and bill payments across the region more accessible, efficient, and cost-effective than ever before,” said Esther Waititu, Safaricom Kenya’s Chief Financial Services Officer, during the launch event.
Waititu also emphasized that this partnership will benefit not only individual users but also businesses looking for cost-effective options to conduct transactions between the two countries.
“This partnership will benefit our customers who may need to send money to Ethiopia and provide a reliable and affordable option for businesses to transact.” Esther added.
Safaricom Ethiopia’s Chief Financial Services Officer, Elsa Muzzolini, highlighted the importance of the expansion, noting, “The extension of these services with M-PESA Kenya comes at the right time, where the revised Ethiopian Forex policy is encouraging the diaspora and business owners to embrace digital payments to send money home and fund their operations in Ethiopia.”
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Muzzolini added that M-Pesa users in Ethiopia will now have the ability to receive secure and affordable transfers from Kenya, encouraging the adoption of digital payments across the region.
“Our M-PESA Ethiopia customers should now be able to receive safe and affordable transfers from M-PESA Kenya thanks to this partnership, which will further promote the region’s adoption of digital payments. We look forward to a successful collaboration.” she noted.
How to Access the M-Pesa Global Service
To send money through Mpesa Global, Safaricom users can:
- Dial *840#, accept the terms and conditions to opt in, and then select “Send Money Abroad.”
- Use the MySafaricom App, Go to M-Pesa, select M-Pesa Global, accept the terms and conditions to opt in, and choose “Send.”
- Download or update the M-Pesa app to the latest version to access the service.
The minimum amount that can be sent through Mpesa Global is Ksh 101, with a transaction fee of Ksh 100, while the maximum amount is Ksh 70,000, with a transaction fee of Ksh 500.
In addition to Ethiopia, M-Pesa customers using Mpesa Global are also able to send and receive money in over 190 countries, apart from North Korea and Syria, which are sanctioned countries.