IFC Partners with Cashi to Expand Digital Payments in Chad and the Sahel

Chad remains among the most financially excluded countries globally, with only 10–15% of adults holding a bank or mobile money account, compared to over 30% across sub-Saharan Africa.

In a significant push to expand financial inclusion in one of Africa’s least banked regions, the International Finance Corporation (IFC), part of the World Bank Group, has announced a partnership with fintech company Cashi to develop low-tech, interoperable digital payment solutions across Chad and the wider Sahel.

The collaboration aims to address deep structural gaps in financial access by delivering affordable, resilient, and connectivity-light digital payment systems, tailored to environments where smartphones, internet access, and banking infrastructure remain limited.

Tackling One of the World’s Lowest Financial Inclusion Rates

Chad remains among the most financially excluded countries globally, with only 10–15% of adults holding a bank or mobile money account, compared to over 30% across sub-Saharan Africa.

In such contexts, cash dominates everyday transactions—creating barriers to business growth, limiting transparency, and restricting access to formal financial services.

Cashi’s platform is designed to overcome these constraints by enabling users to send and receive money through mobile phones, point-of-sale devices, and SMS-based tools, without requiring constant internet connectivity.

A Low-Tech Approach to High-Impact Innovation

Unlike conventional fintech models that rely heavily on smartphones and data connectivity, Cashi focuses on interoperability and simplicity, connecting users, banks, telecom operators, and financial institutions within a unified ecosystem.

This approach is particularly critical in the Sahel, where infrastructure challenges demand solutions that are:

• Accessible on basic mobile devices

• Functional in low or intermittent connectivity environments

• Integrated across multiple financial service providers

“IFC’s upstream support allows us to adapt our proven, crisis-tested platform to the realities of central Africa,” said Tarneem Saeed, CEO of Cashi. “This partnership enables us to build trust with local merchants and deliver practical financial tools people can use daily.”

Unlocking Growth for Small Businesses

For small and informal businesses—backbone sectors in Chad’s economy—the shift to digital payments could be transformative.

The platform is expected to:

• Reduce reliance on cash handling and associated risks

• Lower transaction costs

• Improve access to credit and financial services

• Enable better record-keeping and revenue growth

These improvements are closely linked to job creation and economic expansion, particularly in underserved communities.

IFC Expands Focus on Sahel Region

The partnership reflects IFC’s broader strategy to deepen its footprint in the Sahel, where fragile conditions, low connectivity, and limited financial infrastructure have historically constrained private sector development.

“Expanding access to digital financial services through innovative, tailored solutions is critical in markets where smartphone penetration is low,” said Olivier Buyoya, IFC Division Director for West Africa.“This project underscores IFC’s commitment to resilient, low-tech solutions that boost access to finance.”

Supporting Chad’s Digital Transformation Agenda

The initiative aligns with the Government of Chad’s “Tchad Connexion 2030” development strategy, which prioritizes:

• Digital transformation

• Financial inclusion

• Economic diversification

• Enhanced revenue collection

By strengthening digital payment infrastructure, the partnership is expected to contribute to a more formalized, transparent, and inclusive economy.

A Broader Shift Toward Inclusive Fintech

Globally, fintech innovation has often focused on high-connectivity markets. However, the IFC–Cashi partnership highlights a growing shift toward inclusive, context-specific solutions designed for underserved populations.

In regions like the Sahel, experts say the future of fintech lies not in cutting-edge apps, but in robust, adaptable systems that work under real-world constraints.

Looking Ahead

As digital financial services expand, the success of initiatives like this will depend on regulatory cooperation, user trust, and ecosystem integration.

If scaled effectively, the model could serve as a blueprint for other low-income and fragile markets—demonstrating how simple, interoperable technologies can unlock complex development challenges.