Cooperative Bank of Oromia (Coopbank) has taken a significant step forward in enhancing its digital service offerings with the launch of the Cash Recycler Machine (CRM) and the Dx-Valley 2.0 digital innovation incubation center.

The CRM is designed to provide seamless cash withdrawal and deposit services, operating continuously regardless of working hours or power outages. Equipped with its own battery and solar panels, the machine ensures uninterrupted service and improved accessibility compared to traditional ATMs.

In its 35th regular meeting today, Ethiopia’s Council of Ministers discussed and approved several important bills and reform plans.

Firstly, the Council approved a loan agreement with the International Development Association to obtain USD 207.2 million in interest-free funding for the second phase of the country’s urban drinking water and sanitation projects. This loan will be repaid over 38 years with a 6-year grace period.

Jiji, Africa’s leading classified platform, has announced the launch of its premium services in Ethiopia. This milestone marks a step in Jiji’s growth as it aims to empower small and medium-sized enterprises (SMEs) in the region.

Jiji’s premium services offer promotional tools and features that enable businesses to advertise their products and services across key categories such as property, vehicles, and more. The packages, which include Basic, VIP, Diamond, and Enterprise options, provide solutions to meet the needs of businesses.

Dashen Bank, one of Ethiopia’s leading financial institutions, has been honored as the Best Bank for Financial Inclusiveness in East Africa at the 2024 Africa Bank 4.0 Summit in Nairobi, Kenya. This award recognizes Dashen Bank’s innovative efforts to expand access to financial services for underserved populations across the region.

“This award is a testament to Dashen Bank’s commitment to ensuring financial inclusion for all,” said Asfaw Alemu, CEO of Dashen Bank. “We are grateful to our valued partners Ethio-Telecom, EagleLion System Technologies, and Ethiopian Airlines, whose collaborative efforts have enabled us to deliver impactful financial solutions to our customers.”

Kacha Digital Financial Services and Dire Microfinance Institution have joined forces to launch a suite of innovative digital savings and lending products, marking a significant milestone in Ethiopia’s microfinance sector.

The launch event, held at the in Dire Dawa, was attended by a distinguished gathering of city officials, microfinance institution CEOs, members of the Ethiopian Microfinance Association, senior bank executives, and experts in digital financial services.

Safaricom, Kenya’s telecommunications giant, is eyeing Ethiopia’s nascent bond market to fuel its ambitious expansion into the country. After securing a landmark USD 850 million license in 2021 to operate in Ethiopia, the first time it has ventured outside its home market, Safaricom has made significant strides.

The company now boasts 4.4 million active mobile subscribers and 4.5 million M-Pesa mobile money users in Ethiopia. Its extensive infrastructure, including 2,806 telecommunication towers and 62,700 active agents, has enabled it to reach a substantial portion of Ethiopia’s population.

Dashen Bank has been honored by the International Finance Corporation (IFC), a division of the World Bank Group, for its outstanding global trade finance program. The IFC, during its 8th meeting held in Barcelona, Spain, officially announced Dashen Bank as the recipient of this prestigious accolade.

Furthermore, Dashen Bank has solidified its partnership with the IFC through a newly established agreement, which aims to enhance the bank’s capacity to provide financing to micro, small, and medium enterprises (MSMEs) in Ethiopia. The agreement, signed by Dashen Bank’s Chief Executive Officer, Asfaw Alemu, in Kigali, Rwanda, is set to serve as a catalyst for supporting women-owned MSMEs and agri-businesses across diverse regions of Ethiopia.