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Kenyan president urges Ethiopia to open up mobile money market

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Kenya’s President Uhuru Kenyatta in Paris, France, October 1, 2020. REUTERS/Gonzalo Fuentes/Pool

Kenyan President Uhuru Kenyatta on Tuesday urged Ethiopia to open up its telecoms sector to private mobile money business investors, a move that would complement a process already underway to reform the sector and bring in foreign investment.

Ethiopia is opening up its telecoms sector, hitherto a monopoly of the state-owned Ethio Telecom, and last month authorities awarded the first private operator licence.

The licence was handed out to a consortium led by Kenya’s Safaricom (SCOM.NR), Vodafone (VOD.L), and Japan’s Sumitomo 8053.T. read more

Currently though only Ethio Telecom is allowed to offer mobile financial services while foreign operators are barred by law from participating. Mobile money is a term for banking transactions made using a phone or other mobile device.

“I am hopeful that your government will consider in the near future, opening up the…

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