Digital ROSCAs

Ethiopian fintech eQub seeks banking partners for African expansion

By David Whitehouse

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Posted on May 5, 2023 04:00

© A labourer pushes a handcart at the Mercato open-air marketplace in Ketema, district of Addis Ababa, Ethiopia July 21, 2022. REUTERS/Tiksa Negeri — A labourer pushes a handcart at the Mercato open-air marketplace in Ketema, district of Addis Ababa, Ethiopia July 21, 2022. REUTERS/Tiksa Negeri

Ethiopia’s eQub, which provides digital versions of traditional collective savings mechanisms, is looking for banking partners to expand into the rest of Africa, CEO Alexander Hizikias tells The Africa Report.

The company has a partnership in Ethiopia with Bank of Abyssinia, and more local partners are in the pipeline, Hizikias says. He wants non-Ethiopian banks to help expansion across Africa. eQub is also establishing a company in the US to target the Ethiopian diaspora, he adds.

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