Ezra, the leading microlending fintech, has partnered with Kacha Digital Financial Services S.C. and Global Bank of Ethiopia to launch a digital lending service in Ethiopia.
A trailblazer in digital finance, Kacha is transforming the nation’s financial sector. Licensed by the National Bank of Ethiopia, its scope of services also includes payments, airtime and currency exchange. This new partnership with Ezra reflects both companies’ shared commitment to providing inclusive services that empower financially underserved communities.
Ezra has worked with Kacha to develop a Platform as a Service (PaaS) model which facilitates the seamless integration of credit solutions 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.
The collaboration was celebrated on Saturday, August 26th at an informative digital lending service workshop and formal agreement signing ceremony.
It was attended by esteemed representatives and senior figures from public and private sector banks and microfinance institutions. The event reflected the overarching goals for the new partnership, with an emphasis on the importance of digitally accessible short-term loans for financially underserved individuals and MSMEs.
Abraham Tilahun, CEO of Kacha, spoke at the event and underscored the transformative potential of digital lending in empowering end-users, and how this can contribute to economic growth and financial inclusion: “Our alliance with NIB International Bank and Global Bank Ethiopia, serving a combined customer base exceeding 4 million, aligns with the National Bank’s initiatives to combat inflation. This partnership extends the reach of financial inclusion and makes credit services accessible to the mainstream economy.”
Sahilemichael Mekonen, Chief Retail Banking Officer at the Global Bank of Ethiopia (formerly Debub Global Bank), said: “Today’s partnership aligns seamlessly with our unique five-year strategic plan. 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.”
Dinko Svetic, Vice President of Growth at Ezra, said: “We are delighted to be embarking upon this vital journey with Kacha, Global Bank of Ethiopia, NIB International Bank and certainly more banks in the near future. At Ezra, our mission is to design, develop, and deliver lending solutions which meet the needs of financially underserved individuals across the world – and we are committed to this partnership and the difference it is going to make to micro, small and medium-sized enterprises in Ethiopia.”
