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Innovation Solution Description
Financial solutions such as insurance, savings and credit to rural communities.
Qualitative Results of the Innovation
1. Increase in the number of mobile money users: Kifiya Technology contributed to the growth of mobile money services in Ethiopia. The number of mobile money users increased by more than 1,200%, from 600,000 in 2011 to 8 million in 2020.
3. Increase in the number of bill payment transactions: The number of bill payment transactions increased by more than 700%, from 200,000 in 2010 to 1.5 million in 2020.
3. Increase in the number of electronic payment transactions: Kifiya Technology facilitated electronic payment processing in Ethiopia. The number of electronic payment transactions increased by more than 1,100%, from 4.4 million in 2010 to 52 million in 2020.
Quantitative Result of the Innovation
1. Increase in the number of bank accounts: Kifiya Technology has enabled many Ethiopians to open bank accounts and access financial services. Since its launch, the number of bank accounts in Ethiopia has increased by more than 40%, from 17 million in 2010 to 24 million in 2020.
Border Area
Region
East Africa
Organization
Kifiya,
Address: Addis Ababa, Ethiopia
Email: Info@kifiya.com
Tel: +251115580080
Consent/Link
Consent to share form or official link.
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