Kacha Received First Private Mobile Money License in Ethiopia – Uganda

July 21, 2022: Addis Ababa: Kacha Digital Financial Services S.C is pleased to announce that it has officially received the first private mobile money license from the National Bank of Ethiopia.
Kacha is registered as NPS/PII/002/2022 under the payment service proclamation 718/2011 and the NBE directive ONPS/01/2020 with a subscribed capital of birr 200 million.
The issuance of this license distinctly marks the beginning of a new era for broader participation of the private sector in the national digital financial services landscape as much as it does as a defining milestone to the team of founding shareholders and professionals involved in its establishment for the past three and half years.
Kacha Digital Financial Services S.C is poised to play a key role in driving the journey towards the empowerment of citizens by bringing meaningful financial inclusion through innovative product and market approach designs after dedicating years of development and institutional preparation led by Ethiopian developers along with international experts.
Kacha mobile money platform intends to unlockpossibilities for users by providing access to affordable,  convenient, and secure digital financial services that drive sustainable growth, enhance access to finance,
and improve citizens’ livelihood.
Kacha Mobile money platform will be able to provide cashless transactions through already onboarded more than 30,000 agent networks in the width and breadth of the country.
The services include the opening of wallet accounts, cash-in, cash-out, micro saving, uncollateralized micro credits, micro insurance, direct payments, bill payments, international remittance, fund transfer, airtime top-up, card payments, and other innovative services, which will ultimately boost financial inclusion and help the country to attain its aspirations of meeting national development goals including the SDGs.
Kacha’s vision-driven boarding in the market further empowered by the Digital Ethiopia 2025 and the National Digital Payment Strategy is believed to build an enabling ecosystem closing the existing gaps to change the face of digital financial services in Ethiopia through availing innovative, affordable, seamless, and value-adding business propositions.
The National Bank of Ethiopia has also approved the appointment of 7 Board of Directors and the appointment of Ato Abreham Tilahun Abera, as founding Chief Executive Officer of Kacha Digital    Financial Service.
Ato Abreham uniquely brings to Kacha’s executive leadership suit a hands-on in Fintech practice together with vast banking operations experience that spans 16 years now.
Kacha is also scheduled to have an introductory event with the financial service sector players, partners, and stakeholders on July 28, 2022, at Skylight Hotel.
BUSHENYI, UGANDA – Asheri Ahereza, a maize farmer from Bushenyi, Western Uganda, has been named by Wefarm as a Champion Farmer, having more than doubled his own output and led the way in raising the productivity of his fellow farmers on the Wefarm network. Wefarm, which provides more than a million East African smallholders with […]
While the telco industry may have seen its traditional revenue streams decline further in 2018, thanks in part to the popularity of over-the-top (OTT) services such as WhatsApp that offer low-cost alternatives to messaging and voice calling, the industry is still set for growth. According to the Africa Digital Outlook 2019 report by Ovum, mobile […]
As Somaliland celebrated its 28th year since parting ways with Somalia recently, President Muse Bihi has invited corporate companies worldwide to invest in the country. One company that has maintained its confidence in Somaliland is Coca Cola. Built 40 kilometers from the capital Hargeisa in Jalelo, the Coca Cola Company has offered employment not only to […]
Kampala-Uganda, August 3, 2022: Increasing inflationary pressures tumbled private sector business activity during July as the headline Stanbic Purchasing Managers’ Index (PMI) dipped below the threshold 50.0 no-change mark for the first time this year. Renewed contractions in output and new orders Input costs continue to rise Employment and purchasing scaled back The PMI dropped […]

Plot 722 Namuli Road, Bukoto
Kampala, Uganda.
Phone: +256 414 531345
+256 752 366881
Email: [email protected]
[email protected]


Leave a Comment