ADDIS ABABA – The National Bank of Ethiopia (NBE) has officially approved a request by Kacha Digital Financial Service S.C., the first private payment instrument issuer in the country, to launch full-scale commercial operations. The Fintech embarked on an intensive period of testing and refining its mobile money and other financial services over the ussd code *677#, android & IOS applications after securing its piloting license from the NBE in June 2022. The central bank has now approved Kacha’s request for the commercial operations of its money and use of agent business. Over the past few months, Kacha completed a seamless integration with EthSwitch, the national switch, as well as major banks and mobile money service providers. With a customer-centric approach, Kacha’s mobile money and other financial services are set to revolutionize financial transactions for individuals and businesses across Ethiopia.

Source: Ethiopian News August 12, 2023 15:07 UTC