Kacha Joins Digital Finance Triad


Kacha Joins Digital Finance Triad

The first private payment instrument issuer Kacha Digital Finance Services officiated its services four years after incorporation and receiving a permit. Kacha is the third payment issuer to officially launch a service that allows users to deposit, withdraw, and transact using a mobile application or through a USSD code and offers a long list of digital finance services trailing the state-owned Telebirr and two-month-old M-pesa. The CEO Abraham Tilahun believes it will be a crucial step towards accelerating financial inclusion. He expressed his hope to enhance accessibility, interoperability and inclusivity during the opening ceremony at Skylight Hotel while partnering with Diredawa Microfinance Institution to facilitate services to residents of Dire Dewa City. The company has completed interoperability agreements with several commercial banks with Nib Bank, Global Bank Ethiopia and Buna Bank being the latest ones. Martha Hailemariam, an advisor at the Central Bank, indicated the importance of aligning digital financing to robust customer security and privacy, championing the digital National ID as a crucial element of this objective.   Editors' Note: This article was updated from its original form on October 24, 2023.


Radar

Geda Special Economic Zone Receives Prospective Tenants

East African Holding and Ethio-Chicken have been shortlisted to invest in the Geda Special Economic Zone(GSEZ), located in the tri-state area shared by Mojo, Adama, and Shashemene cities within the Oromia Regional State. The two companies were selected from 120 investors who showed interest in acquiring space in one of the largest SEZs in Africa. Close to 404hct of land has already been developed in the expansive economic zone, out of a potential 24,000 hectares, with lease prices set between...


Radar

Standard Institute Revamps Fees, Board Restructuring

The Ethiopian Standards Institute (ESI) is set to introduce fees for standards sticker, establish a new governing board, and address collaboration with other regulatory bodies. The Institute plans to strengthen its financial standing by charging fees for standards and product certification services to support its operations and annual budget. A key change involves replacing the current Council of Standards with an 11-member Board of Directors. The Minister of Trade & Regional Integration...


Radar

Safaricom Ethiopia Rolls Out its Network to Tigray

With 125 self-built towers, Safaricom Ethiopia has launched its operations in the Tigray Regional State. Executives disclosed plans to invest in an additional 166 towers and expand their reach to the remaining towns. "This is the most exciting milestone in Tigray since the return of social services," said Getachew Reda, president of the Interim Regional State Administration. In July 2021, the consortium-backed telecom giant entered Ethiopia's market, historically dominated by state-owned E...


Back
WhatsApp
Telegram
Email