cbe

USD
57.4395
58.5883
,
GBP
71.4592
72.8884
,
EUR
62.7929
64.0488
,
CHF
61.7733
63.0088
,
SEK
4.9426
5.0415
,
NOK
4.8382
4.935
,
DKK
7.6177
7.7701
,
DJF
,
JPY
0.3318
0.3384
,
CAD
38.0352
38.7959
,
SAR
13.8591
14.1363
,
AED
14.1523
14.4353
,
XAF
0.012
0.0122
,
INR
,
KES
,
AUD
35.0416
35.7424
,
SDR
,
ZAR
,
CNY
7.1607
7.3039
,
KWD
179.4572
183.0463

awash

USD
57.4395
58.5883
,
EUR
62.7929
64.0488
,
GBP
71.4592
72.8884
,
CHF
61.7733
63.0088
,
SAR
13.8591
14.1363
,
AED
14.1523
14.4353
,
CAD
38.0352
38.7959

abyssinia

GBP
71.4592
72.8884
,
CHF
61.7733
63.0088
,
EUR
62.7929
64.0488
,
USD
57.4395
58.5883
,
CAD
38.0352
38.7959
,
AED
14.1523
14.4353
,
SAR
13.8591
14.1363
,
SEK
4.9426
5.0415
,
NOK
4.8382
4.935

abay

USD
55.8018
56.9178
,
EUR
60.0874
61.2891
,
GBP
70.1819
71.5855
,
CHF
63.3607
64.6279
,
AUD
36.5948
37.3267
,
AED
15.1953
15.4992
,
CNY
7.775
7.9305
,
DKK
8.059
8.2202
,
DJF
0.3125
0.3188
,
INR
0.6691
0.6825
,
JPY
0.3816
0.3892
,
KES
0.3636
0.3709
,
NOK
5.1001
5.2021
,
SAR
14.8773
15.1748
,
ZAR
2.919
2.9774
,
SEK
5.3255
5.432
,
SDR
74.1829
75.6666

zemen

CAD
42.1542
42.9973
,
EUR
62.5113
63.7615
,
GBP
74.3797
75.8673
,
SEK
5.4388
5.5476
,
USD
57.4183
58.5667

buna

nib

GBP
71.4592
72.8884
,
EUR
62.7929
64.0488
,
CHF
61.7733
63.0088
,
USD
57.4395
58.5883
,
CAD
38.0352
38.7959
,
AED
14.1523
14.4353
,
SAR
13.8591
14.1363

berhan

wegagen

USD
57.212
58.3562
,
GBP
69.2475
70.6325
,
EURO
61.1024
62.3244
,
CAD
37.593
38.3449
,
AUD
34.1883
34.8721
,
CHF
61.2047
62.4288
,
SEK
4.901
4.999
,
NOK
4.8468
4.9437
,
DKK
7.4131
7.5614
,
DJF
0.2862
0.3268
,
INR
0.6848
0.6985
,
KSH
0.4418
0.4506
,
JPY
0.329
0.3356
,
SAR
13.7998
14.0758
,
AED
14.0958
14.3777
,
ZAR
3.1723
3.2357
,
CNY
7.1366
7.2793
,
KWD
178.0416
181.6024

dgb

USD
57.3597
58.5069
,
GBP
72.864
74.3213
,
EUR
61.7248
62.9593
,
CHF
63.4931
64.763
,
CAD
41.9265
42.765

enat

USD
57.2406
58.3854
,
GBP
72.5868
74.0385
,
CHF
64.4819
65.7715
,
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
15.5162
15.8261
,
ZAR
2.9861
3.0458
,
CNY
7.846
8.0029

addis

nbe

USD
57.4395
58.0139
,
GBP
74.8264
74.8552
,
CHF
64.6841
64.7133
,
SEK
5.4614
5.4629
,
NOK
5.3461
5.3473
,
DKK
8.4174
8.418
,
DJF
0.3217
0.3235
,
INR
0.6874
0.6878
,
KES
0.4393
0.4427
,
JPY
0.3667
0.3667
,
CAD
42.0279
42.031
,
AUD
38.72
38.7487
,
SAR
15.3139
15.3147
,
AED
15.6379
15.6387
,
EUR
62.7929
62.7986
,
XDR
76.1763
76.1763
,
ZAR
3.1622
3.1629
,
CNY
7.9124
7.9144
,
KWD
187.9133
188.0339

dashen

USD
57.4395
58.5883
,
GBP
71.4592
72.8884
,
CHF
61.7733
63.0088
,
SEK
4.9426
5.0415
,
NOK
4.8382
4.935
,
DKK
7.6177
7.7701
,
JPY
0.3318
0.3384
,
CAD
38.0352
38.7959
,
SAR
13.8591
14.1363
,
AED
14.1523
14.4353
,
EUR
62.7929
64.0488
,
DJF
,
INR
,
KES
,
AUD
35.0416
35.7424
,
ZAR
,
CNY
7.1607
7.3039
,
KWD
179.4572
183.0463
,
AED

oromia

USD
57.4344
58.5831
,
GBP
74.4809
75.9705
,
EUR
62.6035
63.8556
,
CHF
64.1367
65.4194
,
SAR
15.3126
15.6189
,
AED
15.6365
15.9492

lion

coop

USD
57.4344
58.5831
,
GBP
74.4809
75.9705
,
EUR
62.6035
63.8556
,
SAR
15.3126
15.6189
,
AED
15.6365
15.9492

gadaa

USD
57.3701
58.5175
,
GBP
69.8498
71.2468
,
EUR
61.9425
63.1814
,
AED
14.1352
14.4179
,
SAR
13.8402
14.117
,
CHF
60.8558
62.0729

hijra

EUR
48
45
,
USD
52.46
62.82
,
GBP
96.55
101.88
,
AED
59.75
63.41
,
KWD
30
25
,
SAR
23
20

amhara

tsehay

USD
57.4395
58.5883
,
GBP
71.4592
72.8884
,
EUR
62.7929
64.0488
,
CAD
38.0352
38.7959
,
SAR
13.8591
14.1363
,
AED
14.1523
14.4353

tsedey

USD
57.4395
58.5883
,
EUR
62.7929
64.0488
,
GBP
71.4592
72.8884
,
AED
14.1523
14.4353

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.