Wim Vanhelleputte, CEO of Safaricom Ethiopia.

Safaricom M-PESA and Nyala Insurance have partnered to provide seamless and secure mobile payment solutions for Ethiopia's insurance sector.

This agreement allows Nyala Insurance customers to pay premiums, renew policies, and conduct other insurance-related transactions directly through M-PESA.

Led by Wim Vanhelleputte, as CEO, Safaricom said: “The integration of Nyala Insurance into M-PESA allows for seamless mobile payments, making premium payments and policy renewals more convenient for customers.

“With this solution, Nyala Insurance customers now have access to secure, fast, and easily accessible payment options. Additionally, the real-time transaction processing streamlines Nyala Insurance’s payment processes, enabling them to reach a broader customer base.”

It added: “This partnership also supports the goals of Digital Ethiopia by promoting financial inclusion and contributing to the growth of the digital economy.

“By collaborating with Nyala Insurance, we continue to drive the expansion of digital financial services in Ethiopia, offering customers a more efficient and accessible way to manage their insurance payments.”

The development comes on the back of recent announced by Safaricom that it has witnessed impressive growth in its customer base in Ethiopia, reporting a 47.3% increase in monthly active users. 

This growth has brought the total number of monthly active customers in the Ethiopian market to 6.1 million.