Two sources quoted by the news agency noted that the Ethiopian government is holding advanced talks with Safaricom to steer the process.
One of the sources said that the use of M-Pesa brand to an Ethiopian-based bank will be licensed by Vodafone while Safaricom will host the servers in Nairobi.
“Ethiopia’s state telecommunications monopoly, Ethio Telecom, will carry the service.”
If successful, Ethiopia will be the 11th country to use M-Pesa services joining the Democratic Republic of Congo, Egypt, Ghana, Kenya, Lesotho, Mozambique, Tanzania, Romania, and India.
A year ago, Safaricom had announced its plan to cover all Africa markets except South Africa where it had failed and was replaced with Vodafone.
This would be made possible after Britain’s Vodafone transferred its 35 percent shareholding in Safaricom to South African subsidiary Vodacom.
Safaricom’s CEO Bob Collymore noted that this move would enable the telco to penetrate markets and expand all across Africa.