opening up

Safaricom’s entry into Ethiopia signals liberalisation drive

By Harry Clynch

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Posted on May 19, 2023 08:30

© A Safaricom Ethiopia shop in Addis Ababa, Ethiopia, July 29, 2022. REUTERS/Tiksa Negeri — A Safaricom Ethiopia shop in Addis Ababa, Ethiopia, July 29, 2022. REUTERS/Tiksa Negeri

Last week, Ethiopia issued its first mobile money service licence to Safaricom last week, signifying a potential opening up of the economy – especially in the telecoms and banking sectors.

The Ethiopian central bank, the National Bank of Ethiopia, issued its first mobile money service licence last week to Safaricom – Kenya’s largest mobile network operator – a tell-tale sign that further liberalisation is on the horizon.

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