Ugandan Fintech Spreads Wings To Ethiopia

Ugandan fintech Service Cops has entered into a partnership with Awash Bank to support the bank’s digital strategy.

The partnership with Awash, the biggest private bank in Ethiopia, was signed yesterday at their headquarters in Addis Abbaba by Mathias Kamugasho and Joseph Kiiza Ndiho, the Service Cops’ Managing Director and Executive Chairman respectively, as well as Tsehay Shiferaw, the Awash Bank CEO and Mr. Yohannes Merga, the bank’s CIO.

The partnership will see Service Cops providing a variety of its digital/technology solutions ranging from edutech solutions such as e-school products as well as other fintech products, API, and channels management solutions. Initially, Awash Bank will support the rollout of the one-of-a-kind school suite, and eventually, other products will follow suit.

Mathias Kamugasho, the Service Cops Managing Director said, “The signing of the partnership with Awash Bank on 25 April 2022, is the beginning of a long-term partnership that will see us support the bank’s digital strategy.” He added that “Within the Ethiopian market, Awash becomes the second bank to sign up for our Technology solutions, which is a testimony to the value of our digital value proposition, cements our position in this part of Africa and we are optimistic that we shall get other partners to expand our offering within this market.”

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.

“Our long-term growth plan is to have a significant 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). We already have a major presence in the EAC and are at formative stages in the rest of these markets,” said Joseph Ndiho Kiiza, the Service Cops’ Executive Chairman.

Service Cops has a presence in seven African countries: Uganda, Ethiopia, Zambia, Kenya, Tanzania, Rwanda, and DRC.