Mpesa in Ethiopia; What this means for online sports betting in the country.
M-Pesa is finally in Ethiopia. The Kenyan-invented financial payment system is attached to the network provider Safaricom and now Ethiopians have access to 4G and 3G networks. M-Pesa Ethiopia Betting
In Ethiopia now a total of 12 cities including the capital city Addis Ababa have access to and can use Safaricom M-Pesa. Ethiopia’s Minister Ahmed Shide said that the country amended its laws to allow foreign investments in mobile money services to operate in the country. No other foreign company had been allowed to conduct such business in the country as Ethiopia did not have a law that allowed foreign operators like M-Pesa to acquire a license.
As operators and providers in the gaming sector, this is a golden opportunity as the M-Pesa payment system is now a global affair and can be incorporated into platforms in Ethiopia. Ethiopia has a population of up to 110 million people and it’s the most populated country in East Africa. The market, the young adults, and modernity has always been present in the country. Now the payment system issue has been solved. M-Pesa Ethiopia
Read Also: Exploring the Sports Betting and Gambling Industry in Ethiopia
In reference to Kenya, M-Pes has enabled gambling industry to thrive and succeed. Betting is popular among young people – employed as well as the jobless — who see it as offering a game-like thrill besides an opportunity to make quick money. While a few punters get lucky and win large sums of money, the activity represents missed opportunities and losses for participants as a whole. Currently, betting is the second-largest business line by revenue under M-Pesa’s business payments after business-to-consumer (B2C).
Many factors make M-Pesa a favorable payment system for many betting operators and players in the industry. There is easy registration, round the clock customer support and it is very secure from potential online theft that is a common occurrence on online money transfer platforms, like credit cards and bank accounts.
Ethiopia has not used many online banking and payment methods. Less than 5% of the population, according to industry estimates, has a mobile account. The market will undoubtedly shift with the advent of Safaricom and the democratization of the nation’s digital domain. M-Pesa Ethiopia Betting
