Ethiopia Grants Safaricom Mobile Money Licence
![](/images/markets/nse/safaricom-m-pesa.jpg)
The Ethiopian Government has granted Safaricom (NSE:SCOM) a mobile money licence, therefore paving way for the telco to introduce its popular M-Pesa service in the country.
1M | 3M | YTD | 1Y | 2Y |
-2.50% | -7.44% | +18.36% | +1.71% | -6.72% |
Value Traded (Mln KES) 182.09 |
Volume 9,147,600 |
Transactions - |
Market Cap. (Bln KES) 1,617.21 |
The Ethiopian Government has granted Safaricom (NSE:SCOM) a mobile money licence, therefore paving way for the telco to introduce its popular M-Pesa service in the country.
Nairobi Business Ventures (NBV) is set to graduate to the main trading platform of the Nairobi Securities Exchange (NSE) after spending Ksh428.75 million ($3.57 million) on the acquisition of four firms in four months.
The Nairobi Securities Exchange (NSE) has admitted Private Wealth Capital Limited (PWCL) as an Authorized Securities Dealer (ASD) for fixed income securities listed on the NSE following the firm’s approval to operate as an ASD by the Capital Markets Authority.
Safaricom and its partners in the Ethiopian venture will see their combined stake drop by up to 15.5 percent after the International Finance Corporation (IFC) announced a plan to purchase Sh19.2 billion ($160 million) worth of shares in the subsidiary.