Cooperative Bank of Oromia’s Michu Digital Lending Hits 60 Billion Birr
TL;DR
The Michu digital lending platform has reached 60 billion birr in total disbursements, adding 8 billion birr in new loans over the past three months.
Cooperative Bank of Oromia’s digital lending platform, Michu, has reached a cumulative disbursement of 60 billion birr. The platform has served over 3.2 million loan accounts since its launch less than four years ago.
This latest figure marks an increase of 8 billion birr in under three months. As of April 25, 2026, the platform had reported 52.6 billion birr in total disbursements to 2.94 million customers.
Michu is Ethiopia’s first uncollateralized digital lending product, developed through a partnership between Cooperative Bank of Oromia and Kifiya Financial Technology PLC. The service utilizes artificial intelligence for credit decisioning to provide loans to individuals and small businesses.
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According to the bank, the platform has reached a diverse customer base, with women accounting for more than 35 percent of total borrowers. Bank leadership noted that the initiative is intended to provide credit access to entrepreneurs, youth, and small businesses that previously faced traditional banking barriers.
Kifiya Financial Technology CEO Munir Duri stated that the platform's infrastructure allows for the financing of businesses that were previously excluded from the formal credit market. Cooperative Bank of Oromia CEO Deribie Asfaw added that the growth of the platform aligns with the bank's focus on digital innovation for community financial empowerment.
Source: Ethiopian Business Review
