Kacha Digital Financial Services receives Ethiopia’s 1st private mobile money service license from the National Bank of Ethiopia. Kacha was founded with an ETB of 200 million capital by 13 Ethiopian investors aiming to help improve Ethiopia’s economic development by introducing innovative products. Kacha provides cashless transactions for the underbanked and unbanked to boost Ethiopia’s financial inclusion. Unbanked refers to people who don’t have a bank account or have no access to financial services. Underbanked relates to people who don’t have the means to access financial services.
Kacha is a unique, compliant, and easy-to-use mobile money platform for users to earn & spend money, micro-savings, unsecured small loans, and insurance services. It provides direct payments, international hawala, money transfers, and mobile airtime services. In addition, it allows users to open Kasha’s wallet accounts, cash-in, cash-out, micro saving, international remittance, fund transfer, airtime top-up, card payments, and other services.
Kacha is committed to partnering with the government, non-governmental organizations, and other stakeholders on the ground to empower communities and improve their lives through financial inclusion. The platform has over 30,00 agents across the country to offer its cashless services that are secure, convenient, and cost-effective digital financial services to its users and work towards sustainable growth in line with Ethiopia’s National Development Goals and the 2025 Digital Ethiopia goal.