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Safaricom’s Ethiopia bet gains traction as M-Pesa users rise sharply
A Safaricom's M-Pesa app user. The number of active M-Pesa customers in Ethiopia grew 258.5 percent year-on-year to 5.2 million in the quarter to December 2025.
The number of active M-Pesa customers in Ethiopia grew 258.5 percent year-on-year to 5.2 million in the quarter to December 2025, boosting Safaricom’s performance in the new market, supported by integration with the country’s national payment system, EthSwitch, in October.
The surge in uptake lifted total M-Pesa transaction value by 192 percent to Sh364 million over the period, up from Sh164.6 million in 2024, mirroring a similar revenue model to Kenya, according to disclosures by Safaricom.
