cbe

USD
56.8022
57.9382
,
GBP
67.5744
68.9259
,
EUR
60.4375
61.6463
,
CHF
59.5391
60.7299
,
SEK
4.695
4.7889
,
NOK
4.6818
4.7754
,
DKK
7.3318
7.4784
,
DJF
0.3181
0.3245
,
JPY
0.3324
0.339
,
CAD
37.2237
37.9682
,
SAR
13.7039
13.978
,
AED
13.9956
14.2755
,
XAF
0.012
0.0122
,
INR
,
KES
,
AUD
33.0232
33.6837
,
SDR
,
ZAR
,
CNY
7.1006
7.2426
,
KWD
175.9743
179.4938

awash

EUR
56.5106
57.6408
,
GBP
64.5257
65.8162
,
JPY
0.4037
0.4118
,
CHF
57.4629
58.6122
,
SAR
14.1527
14.4358

abyssinia

GBP
67.5744
68.9259
,
CHF
59.5391
60.7299
,
EUR
60.4375
61.6463
,
USD
56.8022
57.9382
,
CAD
37.2237
37.9682
,
AED
13.9956
14.2755
,
SAR
13.7039
13.978
,
SEK
4.695
4.7889
,
NOK
4.6818
4.7754

abay

USD
56.5376
57.6684
,
EUR
61.7956
63.0315
,
GBP
72.289
73.7348
,
CHF
64.3716
65.659
,
AUD
37.3657
38.113
,
AED
15.3911
15.6989
,
CNY
7.8594
8.0166
,
DKK
8.2877
8.4535
,
DJF
0.3166
0.3229
,
INR
0.6826
0.6963
,
JPY
0.3821
0.3897
,
KES
0.4082
0.4164
,
NOK
5.3785
5.4861
,
SAR
15.0739
15.3754
,
ZAR
3.0306
3.0912
,
SEK
5.5156
5.6259
,
SDR
78.118
79.6804

zemen

CAD
41.1592
41.9824
,
EUR
60.3636
61.5709
,
GBP
70.6939
72.1078
,
SEK
5.1874
5.2911
,
USD
56.7914
57.9272

buna

nib

GBP
67.5744
68.9259
,
EUR
60.4375
61.6463
,
CHF
59.5391
60.7299
,
USD
56.8022
57.9382
,
CAD
37.2237
37.9682
,
AED
13.9956
14.2755
,
SAR
13.7039
13.978

berhan

wegagen

USD
56.704
57.8381
,
GBP
68.416
69.7843
,
EURO
61.4501
62.6791
,
CAD
37.8361
38.5928
,
AUD
33.7923
34.4681
,
CHF
59.9428
61.1417
,
SEK
4.8272
4.9237
,
NOK
4.7926
4.8885
,
DKK
7.4566
7.6057
,
DJF
0.2862
0.324
,
INR
0.6803
0.6939
,
KSH
0.4345
0.4432
,
JPY
0.3389
0.3457
,
SAR
13.6809
13.9545
,
AED
13.9722
14.2516
,
ZAR
3.1723
3.2357
,
CNY
7.0934
7.2353
,
KWD
176.0871
179.6088

dgb

enat

USD
56.8022
57.9382
,
GBP
70.7585
72.1737
,
CHF
62.3446
63.5915
,
SEK
5.1879
5.2917
,
NOK
5.1733
5.2768
,
DKK
8.1014
8.2634
,
KES
0.4271
0.4356
,
JPY
0.3673
0.3746
,
DJF
0.3181
0.3245
,
CAD
41.1312
41.9538
,
AUD
36.4897
37.2195
,
SAR
15.1424
15.4452
,
AED
15.4648
15.7741
,
ZAR
2.9861
3.0458
,
CNY
7.846
8.0029

addis

nbe

dashen

USD
56.8022
57.9382
,
GBP
67.5744
68.9259
,
CHF
59.5391
60.729882
,
SEK
4.695
4.7889
,
NOK
4.6818
4.775436
,
DKK
7.3318
7.478436
,
JPY
0.3324
0.339048
,
CAD
37.2237
37.9682
,
SAR
13.7039
13.977978
,
AED
13.9956
14.275512
,
EUR
60.4375
61.6463
,
DJF
0
0
,
INR
0
0
,
KES
0
0
,
AUD
33.0232
33.6837
,
ZAR
0
0
,
CNY
7.1006
7.2426
,
KWD
175.9743
179.4938
,
AED

oromia

USD
55.4509
56.5599
,
EUR
58.7724
59.9478
,
GBP
64.394
65.6819
,
SAR
13.3775
13.6451
,
CHF
59.3141
60.5004
,
AED
13.662
13.9352

lion

USD
56.7914
57.9272
,
GBP
67.5127
68.863
,
EUR
60.3636
61.5709

coop

USD
56.7329
57.8676
,
GBP
71.9543
73.3934
,
EUR
61.6516
62.8846
,
SAR
15.1247
15.4272
,
AED
15.4472
15.7561

gadaa

USD
56.7914
57.9272
,
GBP
67.5127
68.863
,
EUR
60.3636
61.5709
,
AED
13.9945
14.2744
,
SAR
13.7012
13.9752
,
CHF
59.3909
60.5787

hijra

EUR
61.5525
62.7836
,
USD
56.0843
57.206
,
GBP
71.5355
72.9662
,
AED
15.2681
15.5735
,
CAD
41.9322
42.7708
,
SAR
14.9478
15.2468

Chapa: Revolutionizing Digital Payment in Ethiopia from 2022

Chapa

Addis Ababa, Ethiopia ( 17 August 2022)
Chapa Financial Technologies S.C is an Ethiopian financial service and data engineering startup that was established in the capital of Ethiopia, Addis Ababa.
Literally meaning “money” in the Ethiopian youth slang, Chapa was founded in 2020 to empower small businesses and large merchants by smoothening the process of financial transactions. The strongest drive behind this company, as per its official website, is finding solutions to inconvenient payment methods that plague the increase in global trade, especially in developing countries.
Ethiopia’s digital economy has long been constrained by a poor financial institution
interoperability, cash-based online transactions, a dearth of functional digital payment gateways, and a small selection of fintech products.
In 2020, when the National Bank of Ethiopia opened the fintech field for digital companies, Chapa was created with the goal of filling these gaps. The business acquired its Payment Gateway license from the National Bank of Ethiopia (NBE) in May 2022 and has already begun enrolling merchants. It is not without competition, however, as it is the third payment gateway company to receive a license following ArifPay and SunPay.
Before introducing its payment gateway service this month, Chap had carried out a few notable projects that had far-reaching impacts. The first of this initiative was MyGerd.com launched last year, which helped in raising USD 300 thousand for the Great Ethiopian Renaissance Dam (GERD) by partnering with Ethiopian Electric Power (EEP), Flutterwave, and Zemen Bank.
The second more impressive feat accomplished in November 2021 was when Chapa developed Eyezon, raising over USD 6 million for internally displaced Ethiopians and conflict-damaged health facilities, partnering with the Ethiopian Diaspora Agency (EDA) and the Commercial Bank of Ethiopia (CBE).
In a recently published report by Pragma Investment Advisory, Eyezon was one of the significant reasons remittances contributed 23% to forex inflow in Ethiopia in 2021-22. In addition, just two months ago, Chapa formed a partnership with Mila-Quebec Artificial Intelligence Institute, the world’s largest deep learning institute, enabling it to further research within the AI and machine learning world and allowing financial inclusion for SMEs and businesses.

Chapa Partnership with AI Institutions

Leaning on these successful ventures to kickstart further endeavors, Chapa officially launched its long-awaited payment gateway service on August 17, 2022, allowing its customers to process payments from both local and international options. With the introduction of this program, Chapa opened doors for Ethiopian businesses to accept payments from 4.5 billion people worldwide.
Fintech currently offers 10 local payment options and 8 international ones. The former constitutes Debit Card/ATM cards of Bank of Abyssinia, Awash International Bank, Addis International Bank, Hibert Bank, Cooperative Bank of Oromia, Berhan Bank, and NiB International Bank, while the latter includes JCB, Visa, PayPal, Discover, UnionPay MasterCard, Diners Club, and American Express.
Three other mobile payment systems, Telebirr, CBE Birr, and Awash Birr, have also been
integrated. In addition to providing payment solutions, Chapa also gives its clients metrics, data, and analytics to assist them in understanding their business operations and making data-driven decisions.
Businesses must first pass KYC checks, supply information about their operations such as TINs, business licenses, addresses, and contact details, and then be accepted before becoming Chapa customers. Merchants will be charged 3.5% for domestic transactions and 1% for international transactions, with discounts offered based on transaction volume. Payment is automatically placed into the merchant’s account within 24 hours.
According to reports, integrating this payment network is as simple as adding six lines of code to the websites or apps of merchant companies. Even so, Chap goes one step further by training programmers who can help companies with the integration process.
By 2025, Chapa hopes to empower and link 100,000 entrepreneurs and enterprises to the global economy. The company is particularly interested in the African market and is working to broaden its presence in various parts of the continent.