Country
Product Type: Payment Services
Sector: Finance Oriented
Project Country: Ethiopia
Kifiya
Kifiya is a payment services provider and enabler of digital financial services in Ethiopia. Kifiya aims to make financial and non-financial transactions simple, affordable, and accessible, through a sustainable business model.
Project Description
Kifiya has acquired Digaf MFI to assist in providing financial solutions such as insurance, savings and credit to rural communities in Ethiopia.
Project Update
Due to various challenges faced on the project, Kifiya proposes to change the business model from providing financial solutions (insurance, branchless banking, merchant payments) to providing digital solar credit to rural Ethiopia through a newly acquired MFI.
Key Learnings
The agri-finance space is still at a nascent stage in Ethiopia and despite challenges faced, innovations need to be supported, potentially by non-returnable capital for organizations to experiment with what will work best for their different markets.