Mr. Tsehay Shiferaw, the Awash Bank Chief Executive Officer (left) and Mr. Joseph Kiiza Ndiho, the Service Cops’ Executive Chairman, exchange signed MoUs to roll out Service Cops’ instant micro-loans solution and a portfolio of other digital finance products (PHOTO/Courtesy)
Service Cops, one of Uganda’s leading Financial Technology and Business Processes Outsourcing (BPO) firms, and Ethiopia’s Awash Bank have reached another milestone agreement to expand their digital-strategy support partnership started in April last year.
Awash Bank is the largest privately run bank in Ethiopia with a chain of over 800 branches and serving more than 12 million people in the Ethiopian Market.
On the 25th of April 2022, the duo entered into a partnership for Service Cops to roll out its one-of-a-kind School Suite solution. Eventually, other products would follow. Following the successful rollout of School Suite, the parties have now agreed to expand the scope and portfolio of solutions.
Over and above E-School enterprise solution, Service Cops will now work with Awash Bank, to roll out the instant Micro-loans product to the Ethiopian market. The offering will be phased initially to serve Awash Bank customers but will be gradually extended to other non-Bank customers in all ecosystems linked to the Bank in the several industries platform” said Mathias Kamugasho, the Service Cops Managing Director.
“We will also be supporting the bank to roll out several digital platforms in the insurance sector, retail outreach, relief and aid distribution in addition to strengthening the bank’s capacity to integrate and add several digital offerings to its customers,” he added.
Commenting about the development, Joseph Kiiza Ndiho, the Service Cops’ Executive Chairman said that the extension of the partnership between the two entities is testimony to the Service Cops’ reliability and innovativeness.
“Today’s customer wants great service and they want it fast. Technology has proved to be a great opportunity to innovate on all fronts, including customer experience and payments. We are glad Service Cops is taking a centre stage in creating homemade innovative fintech solutions that are not only improving the customer experience but are helping organisations become efficient and serve their customers better and perhaps even more importantly, we are excited to be participating in creating solutions that solve “every day” challenges for ordinary citizens whilst making our contribution to the fast-tracking of financial inclusion on the African continent,” remarked Mr. Ndiho.
Service Cops is the first Ugandan-based fintech to set foot in the Ethiopian market and one of a few Ugandan fintech brands operating outside Uganda.
Ethiopia, one of Africa’s 10 largest countries by GDP, and the second-most populous is a strategic market in the Service Cops’ expansion strategy as the fintech firm eyes early leadership, beyond the East African Community.
Service Cops already has a significant presence in Eastern and Southern Africa and is eying presence in all the emerging economies in Africa and Asia targeting the major economic blocks; East African Community (EAC), Southern African Development Community (SADC), Economic Community of West African States (ECOWAS) and Association of Southeast Asian Nations (ASEAN).