“No matter where you are, the culture of Shenzhen is a part of you,” said Nael Hailemariam, a SIGS alumnus from Ethiopia who majored in Data Science and Information Technology and completed OPEN FIESTA’s Internet+Innovation Design program in 2021. Nael is the co-founder and CEO of Chapa Financial Technologies S.C. His experiences at SIGS and in Shenzhen have shaped his success as an entrepreneur.
SIGS alumus Nael Hailemariam
Choosing Tsinghua & Shenzhen
In 2018, Nael entered Tsinghua SIGS after completing his undergraduate degree in electronic information engineering at Beihang University.
“I was attracted to Shenzhen’s entrepreneurial and innovative environment.” Nael came to Shenzhen for the first time in 2017 as part of an internship with the Shenzhen Open Innovation Lab, where he met his mentor David Li and became part of the maker community in the city. His experiences during this time and greater networking opportunities ultimately led him to choose Tsinghua SIGS for his graduate studies.
“OPEN FIESTA gave me freedom.” While at SIGS, Nael took advantage of opportunities to combine his background in engineering with management and leadership. Understanding the importance of networking, he started the IooI (Innovation out of Imagination) Club, inviting innovators and entrepreneurs from different fields to share their experiences and network with SIGS students. Tsinghua SIGS offered him the space and platform to make his club a success.
Additionally, Nael managed OPEN FIESTA’s Design + Space Lab, learning how to turn an idea into a prototype. Nael was also extremely active outside of the classroom. When overseas experts visited from abroad, he led tours around the Huaqiangbei Electronics Market. In his free time, to better understand China, he studied Chinese, ultimately passing the HSK 4. At his internship at Shenzhen-based Transsion, which has the highest sales of any mobile manufacturer in Africa, he learned about overseas business development.
Nael hosting the New Year Gala at SIGS
Nael completed a remote internship at Tencent that centered on game design and payments in Africa. His experiences in China and this internship eventually led him to consider bringing the advantages of an online payment infrastructure to Ethiopia.
Founding and growth of Chapa
“It’s all about the team, not the idea,” said Nael. At a winter camp at Tsinghua SIGS, Nael met his future Chapa co-founder, Israel Goytom. The two worked together at the Shenzhen EPAM Fintech Hack-a-thon where they won 3rd prize for a nutrition app called Demeter using AI technology. In Ethiopia, they brought their partnership to a new venture, Chapa Financial Technologies S.C.
In early 2020, the National Bank of Ethiopia issued a directive allowing non-banks to offer digital financial services. This was Nael’s chance to bring what he learned during his studies in China to a market he knew well, his home country of Ethiopia. This was also the beginning of Chapa.
In August 2020, Nael and his team applied for a license under the new directive. Their company, Chapa Financial Technologies S.C., would allow Ethiopian businesses and organizations to accept local and international digital payment methods from anyone and anywhere in the world. Nael’s team knew the licensing process would take some time, so they began developing their prototype in the meantime. In January of 2021, they received investments from angel funds and rented out an office space. While they waited for their license, they worked with the government to use their expertise to help improve society.
Chapa’s founding mission focuses on corporate social responsibility (CSR). In July of last year, Chapa collaborated with Africa’s most valuable tech start-up, Flutterwave, on MyGerd.com, raising $300,000 for Africa’s largest hydro-power project, the Great Ethiopian Renaissance Dam (GERD). Then, in November 2021, Chapa developed EyezonEthiopia.com - the GoFundMe of Ethiopia - raising over USD $6 million for internally displaced Ethiopians and conflict-damaged health facilities, partnering with the largest bank in Ethiopia, Commercial Bank of Ethiopia (CBE). The platform allows both local and overseas Ethiopians to contribute to national causes from the comfort of their own homes. “In a short time, we have been able to demonstrate our impact by making a difference in critical national causes. We look forward to continuing to engage with various stakeholders and pursuing our Corporate Social Responsibility (CSR) mission,” said Nael.
Nael and his team at Chapa
Not only is Nael devoted to social commitment, but he also never stops improving himself. In October 2021, he completed the Alibaba Netpreneur Training Online Course and was selected in the top 14 of the program to attend an offline program in Hangzhou at the company headquarters when travel restrictions allow.
Nael’s company Chapa successfully received a license from the National Bank of Ethiopia to work with private businesses in May of this year. Because of their previous projects built at “Shenzhen speed,” Nael and his team are now able to grow their business with a positive public reputation and start working with private businesses. The company will continue to focus on tackling challenges such as inadequate interoperability amongst financial institutions, cash-based e-commerce, lack of a functioning digital payment gateway, and limited fintech product offerings.
“Shenzhen speed is also part of the value of our company,” said Nael. Moving forward, Nael and his team will continue drawing upon the Shenzhen culture of innovation and efficiency to expand their business into East Africa and eventually to the rest of the continent. His social commitment remains steadfast: he will continue to be an impact maker and help improve the economy of his country.
Writer: Alena Shish
Editors: Nael Hailemariam, Yuan Yang, Li Han
Photos provided by Nael Hailemariam
