Deploying a comprehensive financial service delivery infrastructure and technology platform to expand access to finance.
November 27, 2013—(Washington DC) Enclude (formerly ShoreBank International Ltd. and Triodos Facet) announced today that it is providing advisory services through a public private partnership (PPP) between Kifiya Financial Technology (Kifiya) and the Netherlands Ministry of Foreign Affairs to support Kifiya, an Ethiopian payment platform provider, to roll out financial and non-financial products and services to over six million people through an “Access to Rural Financial Based Services” project.
Kifiya is a financial service delivery service provider building agent infrastructure and an integrated mobile technology platform designed to simplify financial and non-financial transactions by enabling digital services in Ethiopia. Kifiya’s mission is to create an integrated, scalable service to enable financial inclusion by building sustainable technology infrastructure for financial services.
There is significant demand for these services: in a country with a population of 81 million, 45 million are of working age and 34 million are under the age of 14. However, it is estimated over 90% of the adult population does not have access to financial services, despite the presence of 18 private banks and over 30 microfinance institutions (MFIs). Kifiya is approaching the nascent mobile financial services industry with an innovative model focused on offering numerous affordable, relevant and accessible financial products and services. The company has taken a diversified approach with strategic partnerships and products.