Kacha Digital Financial Service, a private mobile money service provider, has obtained official approval from the National Bank of Ethiopia (NBE) to launch full-scale commercial operations.
This achievement solidifies Kacha’s position as the country’s first privately licensed payment instrument issuer.
After securing its piloting license from the National Bank of Ethiopia in June 2022,
Kacha embarked on a phase of testing and refining its innovative mobile money and other financial services through the USSD code *677#, Android, and iOS applications.
In the recent months, Kacha has successfully integrated with EthSwitch, the national switch, as well as major banks and mobile money service providers.
“We are thrilled that the National Bank of Ethiopia has granted us approval to commence our commercial operations.
This accomplishment underscores our commitment to advance financial inclusion, modernize payment systems, and drive economic growth in Ethiopia.”
The Payment and Settlement Systems Directorate of the National Bank of Ethiopia conveyed the official approval to begin commercial operations through a letter dated July 25, 2023.
