New Digital Savings and Lending Services Unveiled by Kacha and Dire Microfinance

Kacha Digital Financial Services and Dire Microfinance Institution have joined forces to launch a suite of innovative digital savings and lending products, marking a significant milestone in Ethiopia’s microfinance sector.

The launch event, held at the in Dire Dawa, was attended by a distinguished gathering of city officials, microfinance institution CEOs, members of the Ethiopian Microfinance Association, senior bank executives, and experts in digital financial services.

Dr. Tsigereda Kifle, the Health Office Head of Dire Dawa City Administration and a board member of Dire Microfinance, officially inaugurated the event, commending the successful partnership between the two organizations. She highlighted the anticipated benefits for the local populace and the essential contribution of such collaborations to economic growth.

Teshome Abebe, the CEO of Dire Microfinance, echoed the sentiments, emphasizing their shared vision of an accessible, inclusive, and transformative financial future. He explained that the new digital savings and lending services will empower individuals, businesses, and the community by removing financial barriers.

Yitbarek Kasahun, the Chairman of the Board of Kacha Digital Financial Services, praised the strong partnerships Kacha has forged with financial institutions and other organizations, enhancing the utilization of financial services in society. He highlighted that the collaboration with Dire Microfinance is groundbreaking, positioning Dire Microfinance at the forefront of the sector with innovative services.

Abraham Tilahun, CEO of Kacha Digital Financial Services, shed light on the features of the newly introduced digital savings and loan products, including their intuitive interfaces, seamless integration, and strong security measures. He emphasized that these offerings extend beyond conventional services, incorporating Kacha’s existing services such as transfers, utility bill payments, airtime top-ups, package purchases, and international remittances.

Eden Teshome

Editor-in-Chief of Ethiopian Business Review (EBR). She can be reached at eden.teshome@ethiopianbusinessreview.net


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