IFC and Cashi Boost Digital Payment Systems in Africa and Chad
IFC has partnered with fintech firm Cashi to roll out interoperable digital payment infrastructure in Chad and the wider Sahel. The collaboration aims to expand low‑tech, resilient payment options where cash still dominates.
Platform and technology
The Cashi platform links banks, telecom operators and other financial providers. It creates one interoperable ecosystem for transactions across different networks.
Users and businesses can send and receive money by mobile phone, point‑of‑sale devices and SMS tools. The system is optimized for low‑connectivity settings common in parts of central Africa.
Benefits for merchants and households
The rollout reduces the need to handle physical cash for small merchants. That change cuts transaction costs and eases daily cash management.
Better digital access helps firms expand revenues and improve job creation prospects. It also opens pathways to formal financial services for underserved people.
Context and need in Chad
Financial inclusion remains limited in Chad. Only about 10–15% of adults hold a bank or mobile money account.
That compares with more than 30% across sub‑Saharan Africa. The gap highlights the urgency of tailored payment solutions.
Strategic aims and quotes
Tarneem Saeed, Cashi’s CEO, said IFC support helps tailor their crisis‑tested platform to central African realities. She noted the partnership strengthens ties with regulators, merchants and ecosystem partners.
Olivier Buyoya, IFC Division Director for West Africa, emphasized the need for accessible, low‑tech solutions. He said such architecture improves financial access where smartphone penetration is low.
Policy alignment and regional focus
The initiative supports Chad’s Tchad Connexion 2030 agenda. The plan prioritizes digitalization and financial inclusion to spur diversification and revenue growth.
IFC’s involvement also reflects broader efforts in the Sahel. The institution is increasing activity across financial services, agribusiness, connectivity and climate resilience.
The partnership is part of Cashi Boost Digital Payment Systems in Africa and Chad. Filmogaz.com will follow developments as the project advances in the region.
