Addis Ababa- Hibret Bank has signed a memorandum of understanding (MoU) with Kacha Digital Financial Services to collaborate on expanding digital financial services, in a move aimed at strengthening the integration of fintech solutions within Ethiopia’s banking industry. The agreement was formalised on April 17, 2026, at the Bank’s headquarters in Addis Abeba.

The partnership is expected to focus on enhancing digital payment systems, improving access to credit, and promoting savings culture, particularly among underserved segments of the population. It also underscores a broader industry shift toward leveraging technology to deepen financial inclusion.

Asrat Arega, Chief Digital Banking Officer at Hibret Bank, stated that the Bank has been investing in developing in-house technological capabilities to maintain a competitive edge in the evolving financial landscape. He noted that the agreement with Kacha Digital Financial Services is expected to play a significant role in expanding inclusive financial services, facilitating credit accessibility, and strengthening customer engagement through digital channels.

Abrham Tilahun, Chief Executive Officer of Kacha Digital Financial Services, emphasised that partnerships between traditional banks and fintech firms are becoming increasingly essential in modern financial ecosystems. He described the agreement with Hibret Bank as both timely and strategically important, given the growing demand for efficient and accessible digital financial solutions in Ethiopia.

The two institutions plan to collaborate on deploying innovative financial technologies and expanding service delivery channels to reach a broader customer base. Executives from both organisations attended the signing ceremony, expressing optimism that the partnership will contribute to accelerating the country’s digital finance agenda and improving access to formal financial services.