Ethiopia : Safaricom hits 10.8 million M-Pesa users driven by airtime and data purchases

Safaricom Ethiopia’s M-Pesa users surged from 3.1 million to 10.8 million by the end of 2024, driven by increased airtime and data purchases as well as the launch of cross-border money transfer services. The company also expanded its merchant and agent networks, boosting digital transactions. However, M-Pesa revenue dropped to Sh9.8 million due to the depreciation of the Ethiopian birr.