’Chegebeya’ translated as ’Che Market’ aims to revolutionize the financial ecosystem for Micro, Small, and medium enterprises (MSMEs) in Ethiopia by modernizing the supply chain of Fast-Moving Consumer Goods.

The aim of the investment is to boost competitiveness in the small and medium enterprise finance market while also improving financial inclusion, creating jobs, and supporting the nation's climate goals. 

UNCDF launches the Cash-in/Cash-Out (CICO) project in Addis Ababa, Ethiopia, bringing together key stakeholders from Ethiopia's banking sector, MNOs, Fintechs, MFIs, development agencies and other digital financial services ecosystem players.

Through a strategic partnership, UNCDF and Google aim to digitize micro, small and medium enterprises in the Eastern and Southern Africa Region by providing technical assistance, training, and business advisory support.

The investment in the nation's recovering financial sector is part of a wider SME strategy, which aims to help spur a greater range of financial products and services such as psychometric scoring solutions and payment systems reforms.

The credit aims to strengthen financial sector stability, diversify financial solutions, and increase access to financial services in support of Nepal's green, resilient, and inclusive development.

This collaboration will enable the last-mile consumers in Nepal to reap the benefits of an open interoperable payments system driving immediate payment transfers between bank accounts and merchant payments in real-time.

COVID-19 has created many disruptions in Ethiopia this year, impacting both merchants and consumers.

At a time when the world economy was hard hit by the ongoing pandemic, improvement in Nepal’s remittances inflow has made it easier for the government to operate.

As per revised unified directives, banks and financial institutions can also contribute the fund to protect and treat their employees.