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Ethiopia: Chapa Launches New Payment Service

CHAPAChapa Financial Technologies, an Ethiopian fintech company, has launched a gateway service that enables organizations and business to accept and make payments worldwide using multiple channels.

The company’s founder and CEO Israel Goytom said “with more than 110 million people, Ethiopia is the second largest country by population in Africa, but fragmented payments have been a significant problem for most Ethiopian business and entrepreneurs. We have acquired and established holy-grail tools, exclusive technologies and methodologies to ensure the production of qualified hi-tech fixes for our customers. Now, business can focus on scaling their businesses while we handle their payment issues”.

Chapa was founded in 2020 by entrepreneurs Israel Goytom and Nael Hailemeriam. The National Bank of Ethiopia officially licensed the homegrown fintech company in May 2022. The company's primary mission focuses on building payment APIs and payment tools for ambitious Ethiopian businesses.

Source: Fana BC and Newsfile

Image source: Fana BC