Business
Kacha, Mastercard Sign Deal To Expand Card Issuance In Ethiopia
The Reporter · 3 hours ago · Read the Full Story on The Reporter
AI SUMMARY
Kacha Digital Financial Service has signed a five-year agreement with Mastercard to issue payment cards directly to customers and enable card-issuing services for other financial institutions in Ethiopia.
- Kacha Digital Financial Service SC signed a five-year agreement with Mastercard to issue payment cards directly to customers and enable card-issuing services for eligible financial institutions in Ethiopia.
- The partnership will allow Kacha to offer card issuance capabilities to banks, microfinance institutions, and fintech companies, subject to regulatory approvals and individual program arrangements.
- Awash Bank partnered with Mastercard Payment Gateway Services in February 2024, and the Commercial Bank of Ethiopia introduced Mastercard-enabled cards in March 2025 to launch international prepaid cards.
- Kacha's agreement uniquely positions it as an enabler for other financial institutions seeking to offer card services alongside serving its own customer base.
- Abreham Tilahun, CEO of Kacha, stated that the agreement expands service offerings and strengthens capacity to serve both customers and partner institutions.
- As the National Bank of Ethiopia's first privately owned payment instrument issuer, Kacha will immediately begin engaging financial institutions interested in leveraging its platform.
- EthSwitch's National Payment Gateway, launched in July 2023 and completing its pilot in November 2023, continues to drive interoperability within Ethiopia's national payment infrastructure.
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