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Ethiopia’s First Collateral-Free Digital Lending

Michu is Ethiopia's first digital lending platform that provides loans without collateral, through a partnership with CoopBank (Cooperative Bank of Oromia) and Kifiya Financial Technologies.

The Michu platform is powered by Kifiya's Qena, an AI driven digital lending solution that provides cutting-edge credit-score ratings easily and swiftly.

Michu will enable small and medium businesses in Ethiopia to access loans of up to 150,000 Birr with repayment period of up to one year. Meanwhile, microenterprises can access loans of up to 30,000 Birr with a repayment period of 1-4 months.

The uncollateralized digital lending platform is launching this month and is expected to increase CoopBank's loan portfolio by 30% during the pilot period.

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