Safaricom M-PESA has entered into a strategic partnership with LakiPay Financial Technologies to enhance the digital payments ecosystem and promote financial inclusion in Ethiopia. The groundbreaking agreement was signed yesterday by Habtamu Tadesse, the founder and CEO of LakiPay, and Elsa Muzzolini, the CEO of Safaricom M-PESA Mobile Financial Services.
This collaboration aims to integrate LakiPay’s payment gateway with M-PESA payments, allowing Ethiopian merchants and consumers to conduct transactions using mobile payments. This integration is expected to significantly streamline the payment process, making it easier for users to engage in digital transactions.
Elsa Muzzolini emphasized the importance of this 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.” The integration will not only enhance the payment experience for consumers but also empower businesses by enabling them to accept mobile money, thereby modernizing the payment landscape in Ethiopia.
Habtamu Tadesse highlighted the timely nature of this partnership, noting, “The partnership comes at a pivotal time as Ethiopia continues its push for digital transformation, aiming to strengthen its digital economy and expand access to financial services for both consumers and businesses.” This collaboration is seen as a crucial step in facilitating the growth of digital payments in the country, which is essential for economic development.
In addition to the partnership announcement, Safaricom M-PESA Ethiopia recently visited Jimma University’s Innovation Incubation Centre to promote the opening of its API to fintech startups. This initiative aims to encourage innovation and collaboration within the fintech sector, further supporting the digital transformation goals in Ethiopia.
Muzzolini, who joined Safaricom Ethiopia to lead M-PESA in July of last year, brings extensive experience in mobile financial services and payments, having previously worked for five years at MTN in Uganda and Nigeria. Her leadership is expected to play a significant role in driving the success of M-PESA in Ethiopia and enhancing the overall digital payment ecosystem in the region.
