Ethiopian PM Abiy Ahmed Praises Safaricom as M-PESA Customer Base Hits 5.2 Million

Ethiopian Prime Minister Abiy Ahmed has praised Safaricom for expanding telecommunications connectivity and digital financial services in Ethiopia, citing the growing role of its M-PESA platform in improving access to mobile money services.

Speaking during Kenya’s Mashujaa Day celebrations in Eldoret on October 20, 2026, Abiy recognised Safaricom’s contribution to connecting millions of Ethiopians through its telecommunications network and providing a platform for customers to send money and make payments digitally.

The recognition highlights Safaricom’s growing presence in Ethiopia, where the Kenyan telecommunications company has been expanding its network infrastructure and mobile financial services as part of its regional growth strategy.

Safaricom Ethiopia has recorded significant growth in revenue and customer adoption since launching commercial operations in October 2022. The company entered the Ethiopian market with ambitions to expand connectivity, increase competition and support the development of digital services in one of Africa’s largest economies.

In the financial year ended March 31, 2026, Safaricom Ethiopia’s service revenue rose by 130.9 per cent year-on-year to ETB 15.9 billion, reflecting the expansion of its business and increased uptake of its services.

The company’s M-PESA customer base also more than doubled to 5.2 million during the period, signalling growing demand for mobile money services in a market where digital payments are becoming an increasingly important part of financial transactions.

M-PESA enables customers to transfer money and make payments using their mobile phones, providing an alternative to cash-based transactions and supporting access to financial services for individuals and businesses.

Safaricom’s expansion in Ethiopia forms part of its broader strategy to diversify revenue streams beyond Kenya while tapping into opportunities in telecommunications, mobile money and digital financial services across the region.

The company has continued investing in telecommunications infrastructure to extend network coverage and improve access to connectivity. Such investments are central to its efforts to grow its customer base and support the adoption of digital services in urban centres and underserved communities.

Ethiopia presents a substantial growth opportunity for telecommunications operators because of its large population and the potential to expand access to mobile connectivity and formal financial services. However, establishing a sustainable presence in the market requires continued investment in infrastructure, customer acquisition and service development.

For Safaricom, growth in Ethiopia offers an opportunity to replicate aspects of its Kenyan business model in a new market while adapting its products and services to local customer needs and market conditions.

The expansion of M-PESA is particularly significant as mobile money services increasingly play a role in facilitating payments, money transfers and other everyday financial transactions. Wider adoption can help individuals and businesses transact more conveniently, although the extent of these benefits depends on network availability, affordability and customer access to digital services.

Abiy’s remarks underscore the importance of telecommunications investment and mobile financial services in Ethiopia’s digital transformation efforts. They also draw attention to the growing regional reach of Safaricom’s technology platforms as the company seeks to establish Ethiopia as a significant contributor to its long-term growth.

With service revenue rising and its M-PESA customer base expanding, Safaricom Ethiopia is positioning itself to strengthen its presence in the market as demand for connectivity and digital financial services continues to develop.

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