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title: Safaricom set to rival Ethio Telecom in mobile money - Developing Telecoms
description: Safaricom is set to launch M-Pesa to rival Ethio Telecom’s Telebirr, boosting the Ethiopian economy up to two mobile money platforms.  
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 [Operators](https://developingtelecoms.com/telecom-business/operator-news.html)## Safaricom set to rival Ethio Telecom in mobile money

 

 

   Details    Manny Pham    Category: [Operators](https://developingtelecoms.com/telecom-business/operator-news.html)     10 October 2022     8455 views   

 

  ![Safaricom set to rival Ethio Telecom in mobile money](https://developingtelecoms.com/images/stories/Company_Logos/800x600/safaricom-logo-600.jpg)  

 

Safaricom is set to launch M-Pesa to rival Ethio Telecom’s Telebirr, boosting the Ethiopian economy up to two mobile money platforms.

Ethiopia's finance minister Ahmed Shide told The Standard: "A deal has been reached between the government of Ethiopia and Safaricom to grant a license for mobile money service to Safaricom.”

The news followed [Safaricom officially launching its 2G, 3G and 4G mobile services in 11 cities last week](https://developingtelecoms.com/telecom-technology/wireless-networks/14055-safaricom-officially-launches-in-addis-how-will-ethio-telecom-respond.html). The operator aims to launch services in 25 cities by April next year and fulfil its licence obligation to spread coverage to 25% of the population.

As of September, Ethio Telecom reported over 23.9 million total subscribers on its Telebirr service, served by over 82,000 agents and a network of 22,000 merchants. This leaves plenty of space for Safaricom to grow its own base in the formerly closed-off telecoms market of Ethiopia.

Telebirr has a total transaction value of ETB43.8 billion (US$823m) since launching in April last year.

Ethiopia has a population of over 100 million and was seen by operators as one of the very few last untapped opportunities for expansion in pursuit of growth.

 

 

   
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