Addis Ababa, Ethiopia – In a significant step toward expanding digital financial access, M-PESA Ethiopia, operated by Safaricom Telecommunications Ethiopia, has partnered with Awash Bank to launch a new mobile overdraft service named “Errif be M-PESA.” The service aims to increase financial inclusion by allowing customers to access short-term credit directly through their mobile phones.
The new overdraft feature enables eligible M-PESA users—those who have been active for at least 90 days—to complete essential transactions even when their mobile wallet balance is low or empty. Customers can now buy airtime, pay bills, and make merchant payments conveniently through their phones, using the overdraft facility.
The collaboration brings together two key players in Ethiopia’s financial and telecom sectors. Awash Bank, one of the country’s oldest and most experienced private banks, contributes its deep expertise in digital finance, while Safaricom Ethiopia continues to expand its mobile money services since launching M-PESA in 2023.
In a joint statement, both institutions described “Errif be M-PESA” as a strategic initiative aligned with their shared vision to provide “accessible, secure, and inclusive financial services” to millions across Ethiopia.
This partnership is expected to empower underserved communities, increase the use of mobile money, and help bridge the financial gap for individuals without access to traditional banking.
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