Jun 1 , 2024
A digital saving and lending app that allows financial services through a digital National ID was launched last week. Kacha Digital Financial Service and Dire Microfinance joined forces to launch the product in Dire Dewa City. Kacha is the first private company to acquire a payment instrument issuer license in the country. According to CEO Abraham Tilahun, the offering goes beyond conventional services, such as money transfers or bill payments, citing existing services like airtime top-up, package purchases and intranational remittance, which are incorporated into the Dire suite of services. Tsigerada Kifle, a board member of the microfinance and head of the city Health Bureau, expressed her hopes that the service reaches the under-served and under-financed segment of the population. "Ongoing support from the administration is crucial," she said.
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