Pioneer Fintech Tightens Grip on Digital Finance

Aug 26 , 2023


[ssba-buttons]

Small and medium enterprises (SMEs) foresee collateral-free credit and microloans through the private money platform Kacha Financial Technologies which partnered with a couple of commercial banks to facilitate the service. The agreement with Nib Bank and the newly branded Global Bank of Ethiopia (GBE) envisions developing platforms for international transfers and digital saving schemes in the next five years. Kacha caps the momentous ceremony off at the Hyatt Regency Hotel on Africa Avenue (Bole Road), with another agreement its executives signed with the LendTech Group, a global technology company that provides proprietary technology to control a customer’s entire lifecycle from qualification to funding status. The CEO, Abraham Tilahun, championed the transformative role of digital financial tools to improve access to finance and expressed his intention to have Kacha play a role in the digital payment strategy spearheaded by the federal government.


Radar

Milkii App Disburses 25 Million Br in Collateral-Free Loans in Two Months

Oromia Bank's new collateral-free digital lending app, Milkii, has disbursed 25 million Br in loans without requiring collateral. Of this, 16 million Br has already been repaid, generating 1.4 million Br in revenue within just two months. Developed in partnership with Quantum Technology PLC, the app plans to make lending more accessible and inclusive, aligning with Oromia Bank's contribution to the Digital Ethiopia initiative. According to a press release, Milkii promotes financial inclusi...


Radar

Ethiopia Partners with UK to Ease Shipping Bottlenecks

The Ethiopian Freight Forwarders & Shipping Agents Association (EFFSAA) and the British International Freight Association (BIFA) signed a memorandum of understanding (MoU) on May 27, 2025, at Hyatt Regency Addis Abeba, to address skills gaps, customs delays, and corridor inefficiencies in the freight and logistics sector. The partnership focuses on technical cooperation, training, and regulatory reform. With over 90pc of trade dependent on the Djibouti corridor, rising congestion, customs...


Radar

Education Authority Sanctions Mishqen College for Rule Violations

The Education & Training Authority has issued a decisive directive last week, mandating legal action against Mishqen College for persistently defying regulatory orders and unlawfully continuing to offer higher education services. Mishqen College had previously been licensed to conduct undergraduate distance learning programs across multiple regions from 2019 to 2022. However, after serious regulatory breaches, the institution was ordered to cease all instruction, complete pending academic...