Key Takeaways
- • French development finance institution Proparco is investing €600,000 in Cashi, a African fintech developing digital payment solutions, according to Africa Private Equity News.
- • The financing marks Proparco's first financing operation in Sudan, a country facing a severe humanitarian and economic crisis.
- • Cashi's digital wallet, MyCashi, has reached 2.2 million registered users, with particularly strong adoption among young people.
- • Cashi operates through a network of local merchants allowing cash deposits, withdrawals, bill payments and transfers, and has built USSD, SMS and offline card solutions to work around connectivity disruptions.
- • Proparco's global head of investment Guillaume Barberousse framed access to reliable financial services as a driver of economic development and household resilience in fragile contexts.
Summary
French development finance institution Proparco is investing €600,000 in Cashi, a fintech company developing digital payment solutions aimed at expanding access to financial services in underserved African markets, according to Africa Private Equity News. The financing will support Cashi's operations in fragile markets, particularly its efforts to provide accessible and reliable financial services in Sudan. The transaction is Proparco's first financing operation in Sudan, a country facing a severe humanitarian and economic crisis.
The investment addresses acute constraints in Sudan, where limited access to banking, persistent cash shortages, and interruptions to telecommunications and payment systems have made everyday financial transactions increasingly difficult for individuals and businesses. Cashi's model relies on a network of local merchants through which users can deposit and withdraw cash, pay bills and transfer money, reducing dependence on conventional banking infrastructure. Its digital wallet, MyCashi, has reached 2.2 million registered users, with particularly strong adoption among young people. The company has also developed USSD, SMS, offline card and other non-app-based solutions designed to facilitate transactions and the distribution of humanitarian assistance in areas affected by network disruptions.
Guillaume Barberousse, global head of investment at Proparco, said that in fragile contexts such as Sudan, reliable financial services are both a driver of economic development and an essential means of supporting livelihoods and strengthening resilience. Nina Saeed, chief executive officer of Cashi, said Cashi remained operational when banks were unavailable during the war, and that millions of consumers and merchants now use the platform while millions more across Sudan still have no bank account and no nearby ATM.
The article does not disclose the investment structure, valuation, or other investors in the round.
The investment addresses acute constraints in Sudan, where limited access to banking, persistent cash shortages, and interruptions to telecommunications and payment systems have made everyday financial transactions increasingly difficult for individuals and businesses. Cashi's model relies on a network of local merchants through which users can deposit and withdraw cash, pay bills and transfer money, reducing dependence on conventional banking infrastructure. Its digital wallet, MyCashi, has reached 2.2 million registered users, with particularly strong adoption among young people. The company has also developed USSD, SMS, offline card and other non-app-based solutions designed to facilitate transactions and the distribution of humanitarian assistance in areas affected by network disruptions.
Guillaume Barberousse, global head of investment at Proparco, said that in fragile contexts such as Sudan, reliable financial services are both a driver of economic development and an essential means of supporting livelihoods and strengthening resilience. Nina Saeed, chief executive officer of Cashi, said Cashi remained operational when banks were unavailable during the war, and that millions of consumers and merchants now use the platform while millions more across Sudan still have no bank account and no nearby ATM.
The article does not disclose the investment structure, valuation, or other investors in the round.
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