Betting on technology, community structures, and strategic partnerships, FSD Ethiopia is investing $1.24 million in grants to support five local projects.
The funding, aimed at improving financial access and supporting underserved communities, brings together a diverse range of organizations, from startups to state-owned enterprises, while addressing various challenges and opportunities. The program also backed by the Gates Foundation, will run for two years.
The recipients include Ethiopost, Lersha, Pula, Elebat Solutions, and Birrama. Each will leverage digital innovation, agent networks, and community-based strategies with the goal of developing a more inclusive financial ecosystem and driving sustainable economic growth.
“We are thrilled to support these projects that align with our mission to create an inclusive financial ecosystem in Ethiopia,” said Hikmet Abdella, CEO of FSD Ethiopia.
Through its partnership with Elebat Solutions, a company working on expanding digital financial services, FSD plans to expand a robust network of agents, many of them women, to bring digital payment and savings solutions to remote and underserved areas, boosting financial literacy among SMEs, cooperatives, and village savings groups.
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