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.
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