Monday, June 17, 2024
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Kacha starts operations as the country’s first “personal payment document issuer”

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By Eyasu Zekarias

Kacha, a digital finance service provider in Ethiopia, has officially commenced operations after receiving the first personal payment document from the National Bank. Kacha Digital Financial Service obtained its trial license from the National Bank in June 2022 and has been conducting trial applications using different levels and service options.

Having successfully collaborated with various banks and mobile money transfer service providers, Kacha has now received permission from the National Bank of Ethiopia to launch its services at full capacity. The company’s application and services launch program encompass a range of digital finance offerings, including money transfers, loans, cardless ATM withdrawals, and an international remittance system.

To solidify partnerships, Kacha recently held a signing ceremony with various banks, microfinance institutions, and other strategic partners. Additionally, the company has established collaborations with international remittance providers to facilitate secure foreign remittances. Kacha emphasizes the development of a system that grants both senders and receivers access to additional financial services.

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