Proparco supports fintech company in Sudan

Details: Vaughan O'Grady; Category: Investment; 11 November 2026; 322 views

Proparco, a French development finance institution, is investing €600,000 (about US$$670,000) into Cashi, a fintech company developing digital payment solutions to expand access to financial services across overlooked markets in Africa.

Proparco, which is dedicated to supporting the private sector in emerging countries, says this financing will support Cashi’s operations in what it calls fragile markets, and most importantly, its mission to provide accessible and reliable financial services in Sudan. In fact, this partnership marks Proparco’s first financing operation in Sudan.

Sudan faces significant barriers to financial inclusion, exacerbated by ongoing political and economic instability. They include limited access to banking services, persistent cash shortages and interruptions to telecommunications and payment systems.

Founded in 2022, Cashi is a fintech company working to address these challenges by developing an accessible digital payment ecosystem. Building on the experience of establishing alsoug.com, which became Sudan’s leading online marketplace, Cashi was created to overcome the limitations of traditional payment infrastructure and enable individuals and businesses to participate more fully in the digital economy, particularly in underserved areas.

Cashi provides digital payment solutions that enable individuals and businesses to deposit and withdraw cash, pay bills and transfer money through a network of local merchants, reducing reliance on traditional banking infrastructure.

Its digital wallet, MyCashi, has reached 2.2 million registered users, with particularly strong adoption among young people. To overcome connectivity challenges, Cashi has also developed USSD, SMS, offline card, and other non-app-based solutions, designed to facilitate financial transactions and the distribution of humanitarian assistance in areas affected by network disruptions.