Chromepay digital ID registration has kicked off in May as farmers are onboarded across the regions in Ethiopia. This exercise has seen over five hundred registrations converted from the classic “kebele” system of identification to the new digital identification introduced by Chromepay.
The banks and mobile financial institutions who have partnered with Chromepay were happy to have the team on-ground as this kicked off a brand new era for Ethiopia’s digital ID verification.
Meetings with various on-ground partners proved beyond successful as conversations around the initial numbers to be onboarded were increased by the partners.
“We guess that nothing still beats a face-to-face meeting with prospective business partners to build all-round trust”.
With over 105 million inhabitants, Ethiopia is one of the most populous countries in the world. Across sub-saharan Africa, statistics also show that it is a performing economy.
Over 60% of the economy relies on Agriculture as their mainstay. Exports rely almost entirely on agricultural commodities such as coffee, seeds, pulses and livestock. The country has experienced strong economic growth in recent years, and substantial progress has also been made in social and human development over the last decade. Yet poverty remains a major challenge.
Chromepay has positioned itself to help alleviate this major problem in Ethiopia with the support of venture capitalists, international and local partners and the farming community. With over 85% of Ethiopian citizens living in rural areas, major natural disasters have affected the country with over 10 Million people in need of food assistance. The drought situation in-country has also presented another crises that has left the population vulnerable.
Productivity in Agriculture has been affected by low use of technology, undeveloped marketing structures, poor water management and land degradation (which has led to a loss of over 2 billion tons of fertile soils annually). These are all problems the Chromepay farmer registration is looking to solve in Ethiopia. This solution will also help alleviate a silent problem facing the economy, “The boom of their youth population”. Over 71% of the population are still under 30 with a majority of them unemployed or working in tough informal sectors.
Regardless of the work ahead of us, the entire chromepay family is geared towards providing financial solutions that will assist Ethiopia and the other African countries in our launch pipeline. Fintech solutions that work are truly here to stay.