AI Innovation Poised to Transform Finance for MSMEs, Farmers
BaseLine Team
14 Aug, 2025
Artificial intelligence is reshaping the financial sector, expanding credit access to more than 358,000 micro, small, and medium enterprises (MSMEs), 99% of them women-led. This has sustained over one million jobs and enabled the disbursement of more than 16 billion birr in loans.
AI-powered credit scoring systems were at the center of the third Knowledge Series event, hosted by Kifiya Financial Technologies in partnership with the Mastercard Foundation at the Hyatt Regency in Addis Ababa.
Mamo Mihretu, Governor of the National Bank of Ethiopia, described AI as “a bridge between innovation and inclusion,” with the power to empower MSMEs and smallholder farmers while redefining Ethiopia’s financial future.
Held under the theme “Leveraging AI Innovations to Unlock New Markets and Models for the Financial Industry with a Focus on MSMEs and Agri Financing,” the gathering aimed to improve financial access for underserved communities.
Munir Duri, founder and CEO of Kifiya, and Mefthe Tadesse, Country Director of the Mastercard Foundation, also underscored AI’s potential to create new opportunities in previously untapped markets.
Delivering the keynote, Efosa Ojomo, Director of the Global Prosperity Research Group at the Clayton Christensen Institute and co-author of The Prosperity Paradox, highlighted how closing gaps in financial services can open profitable markets. He explained how AI can help institutions serve “non-consumers” by designing tailored products that expand access to finance.
The Knowledge Series is part of the Safe Access to Finance to Enable Entrepreneurship (SAFEE) program, launched in March 2024. Building on lessons from the Michu pilot, SAFE aims to unlock resources for MSMEs through collateralized credit products.
Kwasi Agbitor, Director of Risk Management & Operations at Accion Advisory’s Global Advisory, discussed AI’s role in strengthening risk assessment, enabling lenders to better evaluate creditworthiness and manage potential risks.
A panel discussion brought together Wogayehu GebreMariyam, Vice President of the Commercial Bank of Ethiopia (CBE); Melika Bedri, CEO of Zamzam Bank; Mefthe Tadesse; and a representative from MSMEs.
Bank leaders voiced their readiness to collaborate on AI-driven initiatives. Wogayehu noted the bank’s active loan financing partnerships with Telebirr and the Mastercard Foundation, while Melika stressed that “designing the right product” is essential for reaching underserved communities.
The event attracted more than 250 participants, including senior policymakers, bank executives, fintech leaders, and development partners.
Closing the session, Belete Molla (PhD), Minister of Innovation and Technology, affirmed that these initiatives align with Ethiopia’s national digitalization strategy.
