Goh Betoch Bank S.C. was founded by 11 visionary individuals, including veteran bankers, investors, and academicians driven by a strong devotion to their country and people. The bank holds the distinction of being the first of its kind and the pioneer private mortgage bank in Ethiopia.
The inception of the Bank was driven by critical challenges in the local market, including a huge housing backlog, the unaffordability of houses due to the rising cost of construction, persistent inflation, and a poor housing financing scheme in the country. To address these issues, the Bank was set up by 6,657 shareholders with a sum of Birr 1,056 million in subscribed capital and Birr 521.5 million in paid-up capital. Following a three-year establishment process, the Bank completed all regulatory requirements and secured its license from the National Bank of Ethiopia (NBE) on July 28, 2021, officially commencing operations on October 25, 2021.
Core Motto
"Bank of the Generation"
Target Audience & Strategic Objectives
Goh Betoch Bank targets the lower, middle, and high-income cross-sections of society who aspire to purchase a home. The Bank actively strives to make housing affordable through specific strategic initiatives:
- Inclusive Financing: Providing tailored mortgage schemes to assist varied income brackets in acquiring homes.
- Stock Scaling: Crafting targeted initiatives to scale up the total stock of available houses in the country.
- Diverse Options: Ensuring that low- and middle-income groups are effectively served through structured options for both rent and purchase.
Open Positions at Goh Betoch Bank S.C.