Chapa Records ETB3 Billion Transactions in Just Eight Months

Addis Ababa, Ethiopia (02 September 2023)

In the span of just eight months, Chapa, Ethiopia's leading fintech firm, has achieved an impressive 3 billion ETB (USD 55 million) in transactions. This remarkable milestone comes four months after the company celebrated reaching 1 billion ETB transactions in 2023.

Established in January 2021, Chapa obtained its operating license in Ethiopia on May 20, 2022, marking the beginning of its meteoric rise in the country's financial technology sector. The company's exponential growth from January to April 2023 alone showcases a staggering 500% increase in transaction volumes compared to the previous year.

Since its inception, Chapa has provided various products and services, including payment gateways, mobile payment solutions, financial management software, digital payments, collateral-free loans, a Telegram payment bot, and other financial technology solutions.