Ethiopia’s eQUB Is Transforming Community Savings With Fintech

PIC CAPTION: Alexander Hizikias, founder of eQUB, is championing Ethiopia’s digital finance revolution by transforming the traditional Equb into a modern fintech platform. His mission: to bridge the financial inclusion gap for underserved communities across Africa. eQUB showcased its innovation at the AfricArena Addis Ababa Summit 2025.  Image: Supplied / eQUB

Community-driven digital finance is redefining financial inclusion across Africa. In Ethiopia, a country rich with grassroots savings traditions, eQUB is digitizing one of the oldest forms of communal finance: the Equb. Mandilakhe Somdle of AfricArena caught up with Alexander Hizikias, founder of eQUB, to learn how this startup is preserving culture while bringing modern financial tools to underserved communities.

The African financial landscape is evolving rapidly, shaped by innovators who recognize the value of blending culture and technology to empower communities. Alexander Hizikias is one such entrepreneur, spearheading eQUB, a digital platform that modernizes the traditional Ethiopian Equb savings groups through secure, transparent technology.

eQUB, Alexander explains, “is a mobile-first platform that digitizes Equbs, which are informal savings groups based on trust and community contributions. We automate collections and payouts to remove risk and inefficiency while preserving the social fabric that makes Equbs unique.” This approach differentiates eQUB from traditional Equbs by offering greater accessibility and scalability, enabling more people - especially unbanked individuals - to participate safely.

“Growing up, I saw how Equbs were essential to community survival and empowerment, but the system struggled with transparency and scalability. eQUB solves these problems by bringing trusted traditions into the digital age,” Alexander says.

eQUB’s growth story is rooted in community partnerships and grassroots trust-building. Alexander shares that their biggest milestone so far has been establishing collaborations with banks, cooperatives, and microfinance institutions to onboard thousands of users, providing them with a safe, digital alternative to informal savings.

In 2025, eQUB was honoured with AfricArena’s Best FinTech Award, a moment Alexander describes as “a powerful affirmation of our mission and resilience.” He adds, “This recognition has opened doors to strategic investors and boosted our visibility across the continent.”

The COVID-19 pandemic presented unique challenges but also accelerated eQUB’s relevance. Alexander notes, “Physical distancing made it impossible for many Equb members to meet, but our platform enabled communities to continue saving and supporting each other remotely. The crisis underscored how digital financial tools are not a luxury but a necessity.”

Looking ahead, Alexander reveals ambitious plans: “We aim to raise $500,000 in 2025 to expand eQUB’s reach across East Africa, incorporate micro-insurance and credit scoring services, and deepen our impact in rural and urban areas.” The vision is to build a comprehensive financial ecosystem rooted in African culture yet enhanced by technology.

For fintech founders working in Africa, Alexander advises, “Solve a real problem grounded in local culture and trust. Fintech is more than tech; it’s about understanding how people relate to money. Build solutions that fit those behaviors and you’ll create lasting impact.”

Mandilakhe Somdle of AfricArena thanks Alexander Hizikias for sharing the eQUB journey, a powerful example of how cultural heritage can fuel financial innovation to empower communities across Africa.

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For more information about eQUB, visit their website at  www.equb.app or email info@equb.app

To learn about upcoming AfricArena events, visit www.africarena.com.