M-Pesa teams up with LakiPay to boost digital payments in Ethiopia
This latest integration with LakiPay therefore solidifies Safaricom's role in Ethiopia's financial ecosystem.
Mobile Money Platform M-Pesa has partnered with Ethiopian fintech startup LakiPay Financial Technologies to enhance digital payment services in Ethiopia.
Speaking at the partnership signing ceremony with LakiPay Founder Habtamu Tadesse, M-Pesa CEO Elsa Muzzolini confirmed the agreement revealing that the fintech giant would integrate with LakiPay's payment gateway, enabling LakiPay merchants to accept M-Pesa payments.
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"This partnership with LakiPay strengthens our efforts to drive financial inclusion and digital transformation in Ethiopia by providing more options for seamless transactions," she said.
She further noted that the integration with LakiPay would allow more businesses to leverage mobile money, reducing reliance on cash and enhancing customer experience.
On his part, Habtamu Tadesse, founder and CEO of LakiPay, underscored the collaboration's significance, noting that it would enable merchants to integrate mobile payments into their businesses more efficiently.
"This partnership is a testament to our shared vision of making digital transactions more accessible and reliable for businesses and consumers alike," he said.
With this partnership, Safaricom is extending its footprint in Ethiopia's growing digital economy, having been the first non-Ethiopian telecoms operator to enter the market in August 2022.
Barely a year later, it launched M-Pesa following the issuance of a Payment Instrument Issuer license by the National Bank of Ethiopia (NBE).
Moreover, Safaricom extended its M-Pesa Global service to Ethiopia, allowing customers to make mobile money transactions between Kenya and Ethiopia.
By the end of the year, the number of M-Pesa users on Safaricom Ethiopia's network had surged to 10.8 million up from 3.1 million in December 2023.
This latest integration with LakiPay therefore solidifies Safaricom's role in Ethiopia's financial ecosystem.
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