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Ethiopia’s Cooperative Bank pens digital payment partnership with Visa

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Ethiopia Cooperative Bank of Oromia (CoopBank) has announced signing a significant partnership with Visa to boost its digital payment offerings.

CEO of CoopBank, Deribie Asfaw, who made the announcement in a statement on Friday, said the deal with Visa signalled a shift in Ethiopia’s financial services landscape.

Asfaw emphasized the significance of the collaboration, stating that “this partnership will propel CoopblBank’s digital transformation journey, empowering the bank to deliver seamless and secure digital payment experiences to its extensive customer base, solidifying its position as a leader in the Ethiopian banking industry.”

He further highlighted that it marks a significant milestone in advancing the country’s National ID Project, thus enhancing financial inclusion in Ethiopia.

Also commenting on the deal,
Chad Pollock, Vice President for East Africa at Visa, expressed excitement about the agreement, affirming “Visa’s commitment to leveraging its cutting-edge digital payment technology to provide secure and convenient payment solutions to CoopBank’s customers.”

He underscored that the partnership “represents a monumental step towards achieving a fully digitized economy in Ethiopia, promoting financial inclusion and aligning with global standards.”

“This collaboration represents a major step towards a fully digitized economy in Ethiopia, promising citizens a seamless and secure digital payment experience while reaffirming the commitment of Coopbank and Visa to transforming the country’s financial landscape,” he stated.

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South Africa’s GoMetro bags UK Freight Innovation Fund grant for maritime transport

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The South Africa’s fleet management firm, GoMetro, has been selected for a $191,000 grant from the UK Freight Innovation Fund to accelerate its plans of introducing electric maritime transportation.

The startup which was founded by Justin Coetzee in 2014, is a B2B SaaS fleet management company that is provides an OEM-agnostic electrification management platform for bus and truck operators, thereby leading to decarbonisation.

Late last year, GoMetro had $11.5 million Series A funding round to help it further develop its platform in its key markets, and with the new grant, is looking to a new course in maritime transportation.

“The grant will be used to finance a six-month trial with leading UK logistics companies Maritime Transport and Welch’s Transport to implement GoMetro’s EV-FIT solution for electric vehicle (EV) fleet transformation and the GoMetro Bridge fleet management software platform,” said Coetzee in a statement.

“The grant is an amazing validation for GoMetro in the UK freight market, and implementing our solution with major logistics players is an incredible opportunity to show how our software platform can help fleet owners achieve better results,” Coetzee added.

He further stated that with its trial partners, GoMetro will be collecting and analysing fleet movement data for a chosen UK depot, from which they will identify critical vehicle and infrastructure specification needs.

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Kenya’s auto-tech startup BuuPass expands system to new operators

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Kenyan auto-tech startup, BuuPass, has announced the expansion of its Bus Management System (BMS) to new operators in a bid to further enhance transparency and operational efficiency for bus companies in the country.

Founded in 2016 by the duo of Sonia Kabra and Wyclife Omondi, BuuPass has grown from a B2B2C mobility marketplace to become a leader in digital ticketing and transportation management solutions that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

“What we are witnessing is nothing short of a digital renaissance in bus operations. Our Bus Management Service isn’t just a tool—it’s the future of this industry,” said Kabra, who doubles as the CEO of the company.

“So far, BuuPass has sold over 16 million travel tickets and generated over US$100 million in total value of goods sold, while it has also taken part in the Google for Startups Accelerator Africa and been backed by the Google for Startups Black Founders Fund. It also acquired counterpart QuickPass earlier this year.

“The BuuPass BMS is designed to address the most pressing challenges faced by bus operators. At its core, the system enhances transparency and control by providing real-time visibility into all aspects of operations, from ticket sales to route performance.

“Among the newly enrolled operators are Abuya, Abandu, Shoreline, and Bin Ibrahim, serving crucial routes such as Nairobi-Garissa, Nairobi-Moyale, Nairobi-Busia, Mombasa-Busia, and Mombasa-Kitui.

“To ensure smooth integration, BuuPass provides these operators with scanning devices, computers, and digital printers, along with comprehensive training for their staff on system usage,” she said.

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