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Discover opportunities at Ethiopia's leading financial institutions
The Bank Group 10-Year Strategy of the African Development Bank Group 2024-2033 rests on a foundation of optimism about Africa’s potential to transform societies, economies, and the lives of the people of the continent for the better. Over the past two decades, Africa has got many of the fundamentals right, enjoying its most sustained period of economic growth and bringing about steady improvements in people’s lives. Over the next decade, Africa can create sustained growth, drive transformation, and contribute towards critical global solutions. Its progress will be driven by its unique assets: a young and dynamic workforce, growing urban consumer markets, integration of national economies, huge clean energy potential and extensive natural resource wealth. Africa’s population is the youngest and fastest growing in the world presenting the continent with an unparalleled demographic window of opportunity. By 2030, the continent will have 477 million young people between the ages of 15 and 35, constituting a potential workforce for transforming Africa and the world. The Strategy outlines the vision of an Africa that is prosperous, inclusive, resilient and integrated. This vision is supported by twin strategic objectives: accelerating inclusive green growth and driving prosperous and resilient economies. While pursuing these twin objectives, the Bank will ensure sustainability by balancing the environment, equity, and economy. The mission of the Bank adopted 60 years ago remains relevant – to promote the sustainable economic development and social progress of regional member countries, both individually and jointly. Meeting the needs of regional member countries remains the Bank’s core focus. The Bank’s primary contribution to this vision and mission is its High 5 operational priorities, which combine the critical priorities outlined by African countries with the Bank’s core strengths as a partner in delivering high-quality, transformative investment projects and programmes.
Lion International Bank (LIB), established on October 2, 2006 G.C and went operational on 6, January 2007 having 3,739 founding shareholders, subscribed capital of Birr 432.5 million and paid-up capital of Birr 108.2 million. Currently, LIB has over 12,000 shareholders, and over Birr 2.5 billion paid-up capital. The bank’s total asset has reached over Birr 32 billion, mobilized a total outstanding deposit of Birr 25 billion and granted a total outstanding loan of over 23 billion to customers. Having 278 branches across the country, the bank is able to attract and retain over 1.4 million customers. Lion International Bank has also created job opportunities for 2,753 individuals at various capacities. LIB is the frontier financial institution in the introduction and provision of late hour service until 7:00 PM and provision of agency banking digital service to the economy through Anbesa HelloCash platform. At present, the bank has over 3,400 Anbesa HelloCash agents and about 637,000 agent banking customers. It is also providing state of the art mobile, internet and card banking services. Our Card banking, Mobile banking, and Internet banking users have reached to 204,000, 301,000 and 2,000 respectively.
Debo Micro Finance Institution (DMFI) was established and registered by the National Bank of Ethiopia on August 3, 2017 as a share company fulfilling the requirements of proclamation No.626/2009 and the directives of the National Bank of Ethiopia, the authorizing body to license and supervise MFIs in the country. The institution is a private microfinance Company which is established by 27 shareholders with a paid up capital of Birr 10,350,000and licensed by the National Bank of Ethiopia on August 2017. The operation was started in February 2018 by opening one branch in Addis Ababa Bole sub city. The shareholders of Debo MFI are committed and motivated private investors who put in their resources to provide financial services to targeted clients on commercial basis.
ADCSI is one of the oldest MFIs in the history of microfinance service industry in Ethiopia; providing microfinance services mainly credits, saving, micro insurance and money transfer services which aim to enhance economic base of the poor for the last two decades. Consequently, many people have improved their livings by owning income sources, enhancing production and productivities with help of financial services they accessed. ADCSI is a transformation of Addis Ababa Micro Job Creation Project. It was initiated by Addis Ababa City Administration to provided financial services, especially for those financial poor urban societies which do not have access to conventional banks in the city. After few years the project was developed to the present Addis Credit & Saving Institution S.C /ADCSI/ obtaining a business license from National Bank of Ethiopia on September 27, 2000 G.C. The successful achievements registered at project level and the issuance of national proclamation number 40/96 that for the first time laid legal ground for establishment of microfinance institutions were among major reasons that created conducive environment for the change. Up on establishment, ADCSI has subscribed capital of 1,017,000 birr out of which 517,000 has been paid up capital by 5 founding shareholders. Currently the number of shareholders and amount of capital is raised to 11 shareholders and 1.6 billion birr respectively. The institution has also shown stable progress in operational expansion and organizational sustainability. Its branch network expansion, client outreach, loan portfolios, and saving mobilization have grown-up. The institution has envisioned to expand its operation in order to satisfy the growing demands and successfully realization of its vision and mission to assist the job creation and poverty alleviation activities in the city through providing affordable and innovative microfinance services. The company needs to place itself as a tool to significantly contribute for realization of economic change in the city and national transformation at the wider scope.
In an era where commercial banking services were in an inchoate stage and striding towards transforming different sectors of the economy, Bank of Abyssinia’s founders believed in the need for a bank that gives comprehensive commercial banking services. Thus, the Bank of Abyssinia (BoA) was open for business in 1996 with enthused initiation and determination. The name Abyssinia resembles bravery and character which are the core attributes of BoA. Its identity is demarcated with a sense of hope, optimism, and belief as it is perfectly displayed in its logo, the Adey Abeba. Adey Abeba brings the promise of a new beginning. BoA brings that very sense to all the customers it engages with. Working with and through BoA brings sustained success with the help of a bank that is a symbol of determination and hard work.
The mission of EBA is to promote and serve the interests of member banks through training, advocacy, research and networking with the ultimate objective of creating competitive banking industry in Ethiopia.
The word "Addis" as part of the name of Addis International Bank S.C. (AdIB) carries double meaning: new ideas/innovations and the first word of the capital city of Ethiopia where the Bank is born to shoulder its historic mission. The new vision and innovative ideas/approaches that were initially brewed in Addis will however be shared to potential customers all over the country through branches that will eventually be opened in the near future. AdIB is established by diversified groups of shareholders, including Cooperatives, Micro Finance Institutions (MFIs), Iddirs, other business organizations, and individual citizens. The major shareholders of the Bank are Cooperatives and their members. The Cooperatives are mainly engaged in the provision of financial services, export business, manufacturing, and services. The members of the major shareholders are mainly low and middle-income citizens. The Micro Finance Institutions also address the financial needs of the "Unbanked" citizens. AdIB endeavors to be an inclusive Bank that addresses the financial needs of different income groups in the country. It has the plan to penetrate the huge market that hosts low and middle-income people through Cooperatives and Micro Finance Institutions. AdIB will expand its operating by opening new branches at market centers within and outside Addis.
Tsedey Bank S. C. has upgraded itself and joined the banking industry with huge capital and sizable asset position. The Bank was established with a paid-up capital of Birr 7.75 billion, which is well over the regulator’s minimum capital requirement for establishing bank business in Ethiopia. Total capital of the Bank reached Birr 12.8 billion, that includes the paid-up capital, legal and special reserves. Currently, the Bank’s total asset amounted to Birr 56.6 billion.
Nyala Insurance S.C. (NISCO) is a leading insurance company in Ethiopia known for its strong performance, growth, and financial position. Established in 1995 with a subscribed capital of Birr 25 million and paid-up capital of Birr 7 million, NISCO initially focused on general insurance business. In 2005, it expanded to include life insurance and increased its paid-up capital to Birr 35 million. Over the past 10 years, NISCO has experienced rapid growth, with its paid-up capital reaching Birr 830 million. Headquartered in Addis Ababa, NISCO operates through a network of 48 service outlets (41 Service Centers and 7 Contact Offices) across Ethiopia. In 2023, the company wrote Birr 1.3 billion of premium income, realized a gross profit of Birr 303.6 million, and had total assets of Birr 3.8 billion. NISCO has recently shifted its focus to digital insurance services and introduced a five-year strategic plan called "DigiLeap." This plan aims to digitize the insurance business and reflects the company's forward-thinking approach.
Africa Insurance Company (AIC) is a privately owned Professional Insurance Company established in 1994 in accordance with the Licensing and Supervision of Insurance Business Proclamation No.8/1994, and the commercial code of Ethiopia. The company is set up with fully paid-up capital of 30 million Ethiopian Birr. The capital is divided into 30,000 ordinary shares, each with a par value of 1000 Ethiopian Birr. The capital base AIC utilizes makes it the Strongest Private Insurance Company in the Country. Although AIC is a Young Company, its personnel who are implementing the day-to-day activities of the company are highly qualified in their particular job assignments which has enabled it to provide effective service to its clients. The Corporate Motto "Committed to Excellence and Quality Services" has been adapted immediately on commencing its operation, as a guiding principle in all aspects of AIC’s activities.
Gadaa Bank is established to contribute towards economic empowerment and holistic transformation of the low & medium-income section of the population in the country. The founding members made an intensive reflection on the livelihoods of large majority of Ethiopian farmers, pastoralists, young college graduates with entrepreneurial skills and women who do not have access to financial services in general and in particular to loan types that suits their contexts. These has made the establishment of the bank with more than 28,000 shareholders. Founding shareholders deserve appreciation in the establishment of Gadaa Bank. The founding shareholders meeting has been conducted in August 2021. In this meeting, eleven board of directors composed of appropriate professionals has been elected to lead the bank. The board of directors has also appointed CEO to lead the bank. Accordingly, Gadaa Bank has earned its license on 26th April 2022 to join the Ethiopian banking business.
Goh Betoch Bank S.C. was founded by 11 visionary individuals, veteran bankers, investors, and academicians who have a strong devotion to their country and people. The reasons behind the inception of this, the first of its kind or pioneer private mortgage bank in Ethiopia include a huge housing backlog, unaffordability of houses due to the rising cost of construction, persistent inflation, poor housing financing scheme in the country, among others. The Bank was set up by 6,657 shareholders with a sum of Birr 1,056 million subscribed and Birr 521.5 million paid-up capitals. Following three years of the establishment process, the Bank completed all the regulatory requirements and secured its license from the National Bank of Ethiopia (NBE) on July 28, 2021.