In Africa, access to some financial services is always challenging. However, with new technologies, entrepreneurs are stepping in to offer interesting alternatives.  

Chapa is a fintech solution developed by Ethiopian startup Chapa Financial Technologies S.C, founded in 2020.  It provides an API gateway enabling Ethiopian businesses and organizations to accept online payments and receive the payments directly in their local bank accounts within 24 hours. 

“Chapa’s mission is to empower Ethiopian entrepreneurs and businesses to thrive in the global economy. This launch formally establishes our entry into Ethiopia’s financial sector, and we look forward to expanding our fingerprint on the development of the digital ecosystem across East Africa in phase two, and the rest of Africa in phase three,” says Chapa Financial’s co-founder and CEO, Nael Hailemariam (photo, left). 

To access its services, businesses or organizations have to create accounts by providing the usual information line: name surname, business name, etc. Chapa collects 3.5% of every national transaction processed and 1% of the international ones. Its clients pay nothing for API integration or maintenance. 

Adoni Conrad Quenum