• Safaricom's M-Pesa integrated with Ethiopia's national payment network, EthSwitch, on October 27.

• The move establishes full interoperability between M-Pesa and over fifteen domestic banks and mobile wallets.

• M-Pesa recorded 164.6 million transactions valued at $159.4 million during the 2025 financial year.

Mobile phone company Safaricom Ethiopia integrated its M-Pesa platform into the EthSwitch national payment network. M-Pesa Ethiopia announced the initiative on Monday, October 27. The integration now allows complete interoperability between M-Pesa and more than fifteen banks and mobile wallets. The company plans further integrations in the coming weeks.

In a LinkedIn statement, M-Pesa Ethiopia detailed new capabilities, explaining that M-Pesa users now have the ability to send money straight from their wallets to bank accounts connected to EthSwitch or process payments to merchants accepting bank-issued EthQR codes. The company also indicated that bank clients lacking an M-Pesa account can now transfer money to M-Pesa wallets or pay M-Pesa merchants by scanning M-Pesa EthQR codes via their respective mobile banking applications.

This integration falls under Safaricom Ethiopia's continuous efforts to strengthen its market presence since launching operations in August 2023. The company signed an agreement with the national electricity company in July 2024. This deal enabled bill payment via M-Pesa. Additionally, the company expanded its M-Pesa Global service to Ethiopia in October 2024. That move opened the way for money transfers between Kenya and Ethiopia.

Safaricom Ethiopia concluded a partnership with fintech Lakipay in March 2025 to facilitate merchant payments. It also signed an agreement with the Ministry of Health to implement a digital payment system dedicated to the national healthcare sector. Finally, the company announced the upcoming launch of savings and loan services via its mobile platform in May.

These initiatives happen while Telebirr continues to solidify its dominant market position. Ethio Telecom's mobile payment service maintains its lead through service diversification. Telebirr signed a 15 billion birr ($99.14 million) agreement with Siinqee Bank in April 2025. The deal focuses on developing products like mobile savings, micro-credit, payroll loans, financing for micro and small enterprises, and financing mobile devices. The operator aims for 75 million Telebirr subscribers and an estimated transaction value of 21.3 trillion birrs by 2028.

M-Pesa counted 2.4 million active 90-day subscribers at the end of May 2025. It reported a total of over 10 million subscribers at the end of 2024. The service relies on a network of 42,000 merchants. It registered 164.6 million transactions for a total value of 20.6 billion Kenyan shillings ($159.4 million) at the close of the 2025 financial year (March 31).

This article was initially published in French by Isaac K. Kassouwi

Adapted in English by Ange Jason Quenum