Proparco, the private-sector financing arm of the French Development Agency (AFD) Group, is investing €600,000 in Cashi, a Sudanese digital payments company. The announcement, published on 9 November 2026, describes the deal as Proparco’s first financing operation in Sudan.
The release does not say what kind of instrument the money is, what stake Proparco takes, what Cashi is valued at, or whether the investment is part of a larger round. TechMoran says the same about the stake, the valuation and any larger round. Business Tech Africa describes the deal as an equity investment, but that term does not appear in Proparco’s release, so it should not be taken as confirmed. TechMoran converts the amount to about US$690,000. That is a press conversion, not a figure in the release.
What Cashi does
According to Proparco, Cashi lets people deposit and withdraw cash, pay bills and transfer money through a network of local merchants. Its MyCashi wallet “has reached 2.2 million registered users”. That is a company-reported figure, relayed by Proparco; it has not been independently verified.
The product design is the part most tied to Sudan’s conditions. Proparco says Cashi has built USSD, SMS, offline card and other non-app channels for areas hit by network disruption, and that these also support the distribution of humanitarian assistance. TechMoran describes these services, along with devices that do not require smartphone applications, as designed for areas with unreliable internet connectivity.
Proparco describes the market Cashi operates in as one with limited bank access, persistent cash shortages and interruptions to telecommunications and payment systems. TechMoran dates Sudan’s civil war to April 2023 and reports that banks have faced closures and operational disruptions.
Founding and origins
Proparco says Cashi was founded in 2022 and was built on the experience of alsoug.com, which it describes as Sudan’s leading online marketplace. TechMoran also gives 2022 as the founding year.
Cashi’s chief executive, Nina Saeed, is quoted in the release on the company’s reliability during the war: “We built it to keep working when cash runs short and the network drops.”
Proparco’s rationale
Guillaume Barberousse, Proparco’s Global Head of Investment, said the institution is “proud to support Cashi, an innovative African company developing practical solutions to address critical needs on the ground.” The release says the financing will support Cashi’s operations in fragile markets and marks Proparco’s first financing in Sudan.
What remains unclear
The release does not say how the €600,000 will be split between product, merchant growth or humanitarian work, or whether other investors have joined. It does not mention a stake, and TechMoran says Proparco did not disclose one.
TechMoran calls the commitment relatively small for Proparco. Even so, it shows a development finance institution willing to put capital into a company whose services are built to work when banks and mobile networks fail. Whether that willingness extends to further investment in Sudan will depend on what Cashi does with the money and on conditions there, including security and the banking system.
Sources
- Proparco partners with Cashi to expand access to essential financial services in Sudan (Proparco, published 9 November 2026)
- Proparco Invests $690,000 into Sudan's Fintech Cashi (TechMoran, 12 November 2026)
- Sudanese Fintech Startup Cashi Secures €600,000 from Proparco (Business Tech Africa, 12 November 2026)
TopicsCashi Proparco Sudan Digital Payments
