Ethiopia’s leading private commercial bank, Awash Bank, has joined forces with FinTech startup eQub Financial Technologies to revolutionise the traditional Equb system through digital platforms. The partnership was formalised on Saturday, August 17, 2024, at a signing ceremony in Sapphire Hotel, Namibia St. Alexander A. Hizikias, eQub CEO, underlined the company's alignment with the government's push for inclusive digitisation. Traditionally, equbs have served as primary sources of credit in Ethiopia. FinTech executives seek to transform this practice by establishing digital equb groups and integrating the concept into the modern banking space, leveraging Awash Bank’s digital channels, including its AwashBirr-pro platform. Kefyalew Shiferaw, chief digital banking officer at Awash Bank, underscored the partnership's potential to modernise the bank's offerings while addressing the financial needs of a broader customer base.
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