More Africa NewsEthiopian fintechs, bank partner to offer digital lending service

November 30, 2023by myles0

Ezra, a micro-lending fintech, has collaborated with Kacha Digital Financial Services S.C. and Global Bank of Ethiopia to develop an Ethiopian digital lending service.

According to the parties, this new collaboration with Ezra illustrates both firms’ shared commitment to offering inclusive services that benefit financially underserved areas.

Ezra collaborated with Kacha to create a Platform as a Service (PaaS) approach that allows credit solutions to be integrated into Kacha’s wallet infrastructure.

“With Kacha as the customer-facing entity and Ezra as the technology and scoring provider, this partnership has been designed to provide individuals and MSMEs across Ethiopia with a simplified and affordable digital pathway to loan products,” they said in a statement.

“Our alliance with NIB International Bank and Global Bank Ethiopia, serving a combined customer base of over 4 million, aligns with the National Bank’s initiatives to combat inflation,” stated Abraham Tilahun, CEO of Kacha. “This collaboration broadens the reach of financial inclusion and makes credit services available to the general public.”

Sahilemichael Mekonen, chief retail banking officer at the Global Bank of Ethiopia (formerly Debub Global Bank), added, “Through digitally accessible small loans and innovative remittance services, we are committed to fostering the growth of small and medium-sized enterprises, as well as individuals contributing to the sustainable development of our nation.”

“Our mission is to design, develop, and deliver lending solutions that meet the needs of financially underserved individuals around the world – and we are committed to this partnership and the difference it will make to micro, small, and medium-sized enterprises in Ethiopia,” said Dinko Svetic, vice president of Growth at Ezra.

Source: IT Web Africa

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