Safaricom M-PESA has teamed up with LakiPay Financial Technologies in a strategic partnership aimed at enhancing digital payment services across Ethiopia. This collaboration integrates M-PESA’s mobile money platform with LakiPay’s payment gateway, making it easier for merchants to accept M-PESA payments on the LakiPay platform.
The move is expected to simplify transactions for businesses and consumers, promoting financial inclusion and driving Ethiopia’s rapidly growing digital economy.
A Step Towards Financial Inclusion
The partnership signifies a critical advancement in Ethiopia’s journey toward a cashless economy. With the new integration, more merchants can accept M-PESA payments, making mobile money more accessible and reliable for users.
Elsa Muzzolini, CEO of Safaricom M-PESA Mobile Financial Services, highlighted the importance of the partnership, stating: “This partnership with LakiPay strengthens our efforts to drive financial inclusion and digital transformation in Ethiopia by providing more options for seamless transactions.”
Similarly, Habtamu Tadesse, Founder and CEO of LakiPay Financial Technologies S.C., expressed enthusiasm about the collaboration: “By working together with Safaricom M-PESA, we are enabling merchants to integrate mobile payments into their businesses more efficiently. This partnership is a testament to our shared vision of making digital transactions more accessible and reliable for businesses and consumers alike.”
Expanding Digital Financial Services
Since becoming the first non-Ethiopian telecom operator to enter the market in August 2022, Safaricom has made significant strides in boosting mobile money adoption. By the end of 2024, the number of M-PESA users on Safaricom Ethiopia’s network surged to 10.8 million, up from 3.1 million in December 2023.
Through this partnership with LakiPay, Safaricom M-PESA aims to further accelerate the adoption of digital financial services, providing more payment acceptance points and reducing cash dependence throughout Ethiopia. The collaboration not only enhances customer experience but also aligns with Ethiopia’s broader national digital economy goals.
As Ethiopia continues to embrace digital transformation, the M-PESA and LakiPay partnership stands out as a pivotal development that could reshape the country’s financial landscape.
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