M-Pesa, Safaricom mobile payment system will be licensed in 2 weeks
M-Pesa, the known Safaricom money transfer and trading system will be receiving its license in two weeks said The National Bank of Ethiopia governor Mr.Mamo Mehretu.
Safaricom Telecom Ethiopia(STE) chief executive officer Anwar Soussa, has previously announced that the M-pesa would begin its operation at the beginning of the 2023s financial year which was supposed to be in April month, with many reasons inconsideration for the time delay, it is likely that National Bank will guarantee the company’s license on the coming two weeks for a 50 million American dollars licensing fee .
M-Pesa has been on wait for its license
Safaricom Ethiopia has been enrolled for the license request ever since the Government gave a permit to the company to operate its mobile payment service, which has been over six months now.
National Bank also stated that the preparation of a legal framework that will enable foreign companies to operate in the banking sector is in process and that it will be submitted to the Parliament within two months.
The bank has already received comments from local commercial banks regarding the draft legal framework and is ready to receive comments from international banks and financial institutions.
The governor of the bank, stated on the band platform that the bank will permit Safaricom Ethiopia’s money trading system “Mpesa” in the next two weeks,