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About Qena Software Design & Development PLC

Qena is Ethiopia’s first digital financial solutions provider leveraging on Artificial Intelligence (AI) to assess the creditworthiness of Micro, Small & Medium Enterprises (MSMEs), Small-Holder Farmers (SHFs) & Individuals. Qena was established in 2015 as a subsidiary of Kifiya Financial Technologies to create small-ticket financial products for individuals & enterprises. Since its start, Qena has worked to develop its AI-powered Credit Scoring System and Digital Financing Platform to offer commercial banks a digitized underwriting process for quicker and more accurate credit & finance decisions, without requiring collateral. We collaborate, train, assist and co-create innovative solutions for financial institutions to provide access to finance for unserved and under-served segments.

Qena has gained widespread recognition for its innovative digital lending product, Michu, which is provided in partnership with the Cooperative Bank of Oromia. In just 10 months, Michu has already disbursed over 1.2 billion Birr in loans, making it a popular choice among borrowers in Ethiopia.

Our belief in collaboration, training, and co-creation has steered our journey, allowing us to work in partnership with financial institutions to develop innovative solutions that bridge financial gaps focused on the underserved segments of the population, including MSMEs, smallholder farmers, and individuals. Qena’s robust foundation is built upon a rich repository of 5 years’ time-series data of MSMEs, and Individuals, customized psychometric scoring tailored to the local socio-economic context that is accumulated and refined throughout our 7+ years of technology development. Moreover, in partnership with the Mastercard Foundation Qena worked on a 4+ years of technology customization, forming the backbone of our innovative solutions and driving our ongoing mission to build a better financial future for all.