Ethiopia has reportedly started changing certain national payments laws in an effort to clear the way for Safaricom to launch M-PESA,, to the Horn of Africa country’s virtually untapped market of 110-million people.
Included in the bill is the clause that “Foreign nationals may be allowed to invest in a payment instrument issuer or a payment system operator business, or establish a subsidiary which shall be licensed as a payment instrument issuer or payment system operator.” Hailemariam continues to say that if the new amendment is approved, it will “allow M-Pesa to get a license in Ethiopia.”
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