Michu

Michu: A Revolutionary Digital Financing Platform for MSMEs in Ethiopia

Michu, developed by Cooperative Bank of Oromia - Powered by Qena, is a pioneering digital financing platform in Ethiopia. It is specifically designed for Micro, Small, and Medium Enterprises (MSMEs) as well as mass populations. This AI-powered smartphone application offers a range of features to support the financial needs of businesses.

With Michu, users can easily apply for loans online without the need for collateral. The application utilizes a credit assessment algorithm that goes beyond traditional methods, providing users with a digital offer analysis that is both accurate and efficient. This makes the loan application process faster and more accessible for MSMEs.

One of the standout features of Michu is its online debt collection procedures. Users can conveniently manage their debt repayments through the application, eliminating the need for physical visits to the bank. This not only saves time but also provides a seamless and hassle-free experience for borrowers.

Michu caters to different types of businesses through its two products: Wabii and Guyyaa. Wabii is designed for formal line business traders such as micro retailers, coffee houses, and fast food corners. On the other hand, Guyyaa is tailored for informal line business traders including gulit traders, roadside traders, and informal coffee houses.

Overall, Michu is a game-changer in the digital financing landscape of Ethiopia. Its innovative features, user-friendly interface, and commitment to supporting MSMEs make it a valuable tool for businesses looking to grow and thrive in the country.