Ethiopia changes law for M-Pesa expansion

Safaricom data centre

The $100 million China-assembled Safaricom data centre in Addis Ababa, Ethiopia. PHOTO | TESFA-ALEM TEKLE | NMG

Ethiopia has started changing its national payments law to clear the way for Safaricom #ticker:SCOM to introduce its popular M-Pesa in the market of 110 million people.

Ethiopia’s central bank has drafted a Bill that will allow foreign investors to offer mobile money services, boosting firms such as Safaricom that are seeking to start operations in the country this year.

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