The National Bank of Ethiopia (NBE) issued a mobile money service license to Safaricom M-Pesa Mobile Financial Service PLC, a subsidiary of Safaricom Telecommunication Ethiopia PLC, making the company the first foreign investor to be granted the license in Ethiopia.
Safaricom has formally made inquiries about the possibility of launching its mobile-based money transfer services, M-Pesa, in Ethiopia and the additional license fee that will be required.
Safaricom Ethiopia has signed a three-year pole lease agreement with Ethiopian Electric Utility (EEU) to enable aerial fiber installation through the existing poles infrastructure in Addis Ababa and across the country. Aerial cabling is easier to repair and deploy across the country, Safaricom Ethiopia noted.
Peter Ndegwa, CEO of Safaricom, said the Global Partnership for Ethiopia, a consortium of telecom service providers led by Safaricom, will begin operations in Ethiopia in 2022. Mr. Ndegwa made the remark during his meeting with Ahmed Shide, Ethiopia's Minister of Finance, according to the Ministry.
The Development Bank of Ethiopia announced selling more than the projected amount of Grand Renaissance Dam bonds in the last two quarters according to the bank’s six month report. 
The bank has estimated selling 600 million birr worth of bonds for the Grand Renaissance Dam in the last six months but actual sales exceeded one billion birr. The Development bank aims to sale 1.5 billion birr worth of Grand Renaissance Dam bonds in the current fiscal year.
