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MWC: Ethiopian fintech eQub digitizes peer-to-peer credit
Ethiopian startup eQub won the fintech pitching battle at 4YFN 2024, the startup event of Mobile World Congress.
Known as a rotating savings and credit association, or ROSCAS, this financing modality is common in many countries, especially across Africa, where it is used both for personal and for business loans; but it has yet to enter the digital age. Starting with an app, it targets users among the growing number of Ethiopians who have bank accounts and mobile phones, but limited access to credit. In addition, the startup has 20 corporate partners as part of its B2B2C strategy: If employees of a company already participate in Equbs, the app now gives the employer a way to make this digital.
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