Kifiya Financial Technology

Enabling equitable access to financial services & markets

Building a financially and digitally inclusive future for Africa since 2012.

Kifiya Becomes First Ethiopian Fintech to Receive Prestigious “Product Innovation of the Year” Award at the Global SME Finance Awards 2024

Who we are

We are building a tech-enabled, data-driven digital finance and eCommerce infrastructure to solve problems for businesses and consumers in the Financial Services, Retail, eCommerce, Agriculture and Mobility sectors

Solving for market failures, driving social impact, and bringing system level change through partnerships.

Our impact

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MSMEs accessed Financing

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MSMEs accessed Market

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Smallholder farmers accessed input & credit

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Commuters accessed digital booking and ticketing

Ethiopia as the New FinTech Hub

In August 2023, the Ethiopian government enacted a set of policy changes and initiatives that have created an enabling environment for the growth of fintech in the country. Key changes include:

Regulatory Sandbox

Foreign Ownership

Streamlined Licensing

Digital Infrastructure

Financial Inclusion

Regulatory Sandbox

Foreign Ownership

Streamlined Licensing

Digital Infrastructure

Financial Inclusion

Driven by policy changes like telecom liberalization, Ethiopia’s large unbanked population, growing middle class, and increasing smartphone use are making it an emerging fintech hub in Africa. This shift is attracting major international fintech players to set up shop in Ethiopia, thanks to the favorable business environment. The rise of fintech in Ethiopia has significant implications for financial services and economic development, as these innovations have the potential to bring banking, lending, payments, and other essential financial tools to more Ethiopians.

Testimonials

My experience with Cooperative Bank of Oromia's Michu digital loan service was a career milestone. After a smooth application, the loan drove substantial business growth. As an advocate, I shared Michu's benefits, particularly with women traders. At first technology adoption was challenging, but I have now found the app to be a responsive, valuable tool. This encounter highlighted Michu's power to empower entrepreneurs through accessible, efficient digital financing. Developed by Kifiya Financial Technology, Michu exemplifies how innovative fintech can transform livelihoods by bridging the credit gap for underserved small businesses.

I am a taxi driver and I first heard about Michu – a digital lending platform developed by Kifiya Financial Technology, through Facebook and TikTok ads. Initially skeptical, I discovered it offered uncollateralized loans and quickly applied at Coop Bank. My car needed urgent repairs, and within a week, I improved my credit score and secured a $50,000 loan. The Michu app was user-friendly and having a clear repayment date made planning easy. Unlike most big banks, Michu was efficient and effective. I've since shared this opportunity with four friends, helping them leverage digital lending for their businesses.

A text from Coop Bank piqued my interest in “Michu”, an uncollateralized digital lending platform developed by Kifiya. Visiting a branch, I quickly signed up. After improving my credit score, I secured a 50,000-birr loan to expand my business. I highly value Michu's convenient mobile app experience. Impressed by the service, I recommended it to acquaintances, who also became customers. This service has transformed my business, empowering me and my network through accessible, efficient digital financing. Michu exemplifies how innovative fintech can bridge the credit gap for underserved entrepreneurs.

My aspiration to own a detergent manufacturer was realized through Kifiya's ecommerce platform. My detergent's online ratings led to increased output. This in turn transformed the capacity of the company with 65 employees and 5 transportation cars. Moreover, I've been able to provide my family with the financial freedom we've always desired. Optimistic about the future, I aim to reduce imports and create jobs for 500 people. Kifiya's digital ecommerce solution empowered my entrepreneurial journey by scaling my business and achieving my long-held manufacturing ambitions.

We make women’s and kids’ clothing. We first started by making masks and nurses’ smocks. With a growing business, we have been able to create jobs for 23 youths. We spent many resources promoting our products to the intended market. Kifiya’s ecommerce platform is one of the outlets we are using to reach our customers.

We create environmental-friendly home elements, art, and sculptures using recycled materials. I started creating paper arts as my part-time job and selling them out of my home through social media. This grew to become my main job and founded Creative Gojo. We now have nine full-time employees and we use Kifiya’s eCommerce platform to sell our products. Our goal is to teach our community to generate income with sustainable solutions. We plan to create different jobs and opportunities for the youth in our community.

As the proprietor of a small kiosk near Fiyel Bet, I discovered Kifiya’s lending app through social media. Realizing I only needed a valid business license, I quickly registered at the nearby Coop Bank. Unlike other financial institutions that required collateral, Michu offered the perfect uncollateralized lending solution. This not only revived my business but allowed it to thrive. The Michu app was easy to use, saving me valuable time and energy. I've shared my positive experience and helped 15 others leverage uncollateralized digital lending to grow their small businesses.