The discussions are with a non-Ethiopian African partner that already has an operating license in the country, Rahmann says in Dubai. The aim is for Mondia Pay to be added to the existing license.
Ethiopia is opening up its telecoms sector, currently controlled by state-owned Ethio Telecom. In May, the government awarded a telecoms licence to a consortium led by Kenya’s Safaricom. A second round of licensing is expected in the coming months.
The country is a “virgin market” with “huge potential” where phone use and connectivity are set to grow fast, Rahmann says. “The Western world hasn’t really penetrated it yet.” Mondia Pay will need to establish a physical presence in Ethiopia, he adds.