Browsing: Mobile Money Africa

• After over a decade since launching, Mpesa has 54.4 million users in Africa.
• Safaricom has increased its Group Service Revenue by 5.2 percent to $2.159 billion, while the Group net income declined by 10.6 percent within Ethiopia.
• Safaricom Telecommunications Ethiopia added close to 3 million customers.

Safaricom, one of Africa’s top telecommunication services in Africa, finally acquired a license to operate M-PESA within Ethiopia. This new milestone will open doors for the East African country by ushering in a new age of mobile money.

This new initiative is what the Ethiopian economy requires as it struggles to regain stability within its borders.

The power of Mobile Money provider M-PESA

M-PESA first debuted in 2007 and sent Africa into a wave of digital money before any government perceived digital transformation. Its primary mechanism allows users to send and receive currency by clicking a button. This new initiative ushered in a …

The first quarter of 2021 ended on a great note as two African fintech businesses gained unicorn status, a rare fit amidst a ragging global pandemic that is finally being aggressively tackled by the speedy supply of much-needed vaccines. Such is the African story – a trail of surprises in the midst of uncertainty. On 18^th March 2021, Airtel Africa announced it had received a $200M investment from TPG’s Rise Fund at a valuation of $2.65B making it the latest African unicorn[1]. Exactly a week before, March 10^th, 2021, Flutterwave from Nigeria also announced a $170M investment from Avenir Growth Capital, Tiger Global Management and others at a billion-dollar valuation[2]. In the tech world hitting a billion-dollar valuation is a big deal – you earn the name Unicorn, a mythical animal that represents the statistical rarity of successful ventures coined in 2013 by …