International Finance Corporation (IFC), the World Bank Group’s private sector arm, has teamed up with African fintech Cashi to expand digital payment services into Chad and central Africa, according to an IFC press release. Cashi’s platform lets users and businesses send and receive money through mobile phones, point-of-sale devices, and even SMS in areas with spotty connectivity. The interoperable system links banks, telecoms, and financial institutions, making everyday transactions easier where cash still rules and formal banking reaches only 10-15% of adults.
For small businesses, this cuts cash-handling hassles, lowers costs, and opens doors to credit and growth, helping create jobs in a region where financial access lags far behind sub-Saharan Africa’s 30% average. Cashi CEO Tarneem Saeed said IFC’s support lets them tailor their crisis-tested platform to central Africa’s realities, working with regulators and merchants to build trust and deliver practical tools for daily use.
IFC Division Director for West Africa Olivier Buyoya stressed that low-tech, resilient solutions are crucial where smartphones are scarce. The partnership supports Chad’s Tchad Connexion 2030 agenda, which sees digitalization and financial inclusion as drivers of economic diversification and private sector growth. It reflects IFC’s growing focus on the Sahel, targeting finance, agribusiness, connectivity, and climate resilience.
