Kifiya Wins Prestigious Product Innovation Award at Global SME Finance Awards 2024

Kifiya Financial Technology has received the Silver Award for Product Innovation of the Year in Africa at the Global SME Finance Awards 2024, held in São Paulo, Brazil. The company is recognized for its commitment to a digitally and financially inclusive future, leveraging AI and cutting-edge technology.

Munir Duri, CEO and founder of Kifiya, highlighted Ethiopia's drive for innovation under Prime Minister Dr. Abiy Ahmed. Kifiya's digital platforms are enhancing market access and financing for SMEs, contributing significantly to Ethiopia’s economic development.

Kifiya's alternative credit scoring infrastructure enables unbanked individuals and MSMEs to access credit. Partnerships, like the one with the Cooperative Bank of Oromia, have facilitated $100 million in uncollateralized credit for nearly 300,000 MSMEs. Over 1.5 million smallholder farmers have accessed more than $10 million in agricultural inputs through Kifiya's AgTech platform.

Looking ahead, Kifiya aims to scale its impact across Africa by addressing the $400 billion credit gap and improving market access for 44 million MSMEs and smallholder farmers, contributing to economic growth and financial inclusion in the region.