Yup, you read that right! Chapa is one year old now and of course, it is my best friend for more than a year.
I remember my vacations to Ethiopia were mostly knocking on NBE doors to let us build payment infrastructure, and you know the rest from one of our interviews. After four tiresome years, Chapa was born. Chapa is a one-year-old startup now. Whoa, it's been one solid year since we started Chapa. What an adventurous journey we had in a year!
Now that we know Fintech is vital for our country's development without having a payment infrastructure, anything is simply useless.
Since we joined the sector officially in Jan 2021, we have been trying to solve several national problems we saw. We built mygerd.com because the Great Ethiopian Renaissance Dam is our national pride, and it also shows digital payments' potential in the national economy. We helped Ethiopian Electric Power collect more than $ 300,000 in a short period. After understanding the fervidness of the community, we developed eyezonethiopia.com to help Internally Displaced People in Ethiopia, and it proved the potential of our community by collecting more than $6,000,000 in less than four months.
I remember talking to some promising local startups, and they all have one thing in common can't accept payments online.
We now know Fintech is very important and the gateway to the digital economy in Ethiopia, where customers are still required to visit bank branches to get services.
Long story short, we believe by expanding the industry in Ethiopia, every citizen, entrepreneur and tier level merchant of the country will have the opportunity to participate in the global digital economy; that's why our motto is "connecting Ethiopia to the global economy" which will then subsequently drive growth in both inside and outside of the country.
Yes, We are getting older, but We are just getting started!!