Mastercard Foundation and Kifiya Financial Technology PLC to Enable More Than 477,800 MSMEs to Access Uncol...

Addis Ababa, Ethiopia -- The Mastercard Foundation, in partnership with Kifiya Financial Technology PLC , announces a scale-up program designed to unlock resources from banks, innovate new financial models and products, and transition the financial sector to enable access to uncollateralized financial credit products to a greater number of MSMEs. A budget of US $100 million is committed to the program.

The program will serve program participants of current and future Foundation programs by unlocking access to uncollateralized working and productive digital credit. The credit is in the form of nano, micro, and small working capital, inventory credit, invoice financing, equipment financing, and buy-now-pay-later products for MSMEs in urban, peri-urban, and rural areas of Ethiopia.

The program unlocks resources from banks, innovates new models/products, and ensures that the financial sector transitions to offer uncollateralized financial credit products to a greater number of MSMEs – even beyond the initial program targets. The announcement of the SAFEE program was part of the month-long"Startup Ethiopia" event in April 2024, along with the announcement of a series of reforms including access to finance opportunities for start-ups.

Kifiya Financial Technology is an industry-leading financial technology company based in Addis Ababa, Ethiopia, focussed on enabling access to finance and access to markets through data driven digital solutions. Founded in 2010, Kifiya simplifies complex financial services, bridging the digital divide and fostering financial and markets inclusion across Ethiopia. The company offers a diverse portfolio of services in payments, agriculture, micro-insurance, and mobility.

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