A Bank Initiative Resumes Share Sales after Two-Year Hiatus


A Bank Initiative Resumes Share Sales after Two-Year Hiatus

Geez Bank, a private commercial bank under formation, has resumed share sales after a two-year interruption caused by the northern conflict. Initially, the Bank aimed to complete its share sales by July 2021, but the escalating tensions and uncertainties in the country forced a halt to its efforts. Thomas Haile, a member of the bank's founding committee, confirmed that they have now secured a permit from the central bank, allowing them to continue their bid to raise equity from the public. The announcement comes as a positive development, as businesses and investors look to rebuild and strengthen the economy after the turmoil caused by the war. During a press conference held at Geez Bank's office, at Wegagen Bank's headquarters, the founding committee revealed ambitious plans to raise half a billion Birr in paid-up capital within the next month. If successful, this move is expected to solidify the Bank's position in providing a strong foundation for its future growth.

[ssba-buttons]

Radar

Fresh Push to Help Farmers Get Covered & Cash In

The Ministry of Agriculture has established the Rural Finance Service Unit (RFSU) to coordinate and expand agricultural insurance nationwide. Announced on Tuesday at the 2025 UNDP Financial Resilience in Agriculture Community of Practice forum (held at the UN Economic Commission for Africa headquarters), the RFSU is supported by UNDP, JICA, and other partners with funding from the Bill & Melinda Gates Foundation. Agriculture Minister Girma Amente (PhD) and State Minister Sofia Kassa attended...


Radar

Mission 300 Gains Momentum as Ethiopia Charts Path to Energy Equity

The Government has developed a National Energy Compact with the goal of achieving universal electricity access by 2030. The strategy, led by the Ministry of Water & Energy (MoWE), outlines Ethiopia's commitment to reaching 100pc energy access for its population within the next five years. According to State Minister for Energy Development Sector Sultan Woli, the compact was prepared in collaboration with key development partners, including the World Bank Group and the African Development...


Radar

Rammis Bank Commences Mobile Application, Card Banking Services

Rammis Bank has launched its mobile banking application and card services as part of its digital expansion drive. The "Rammis Mobile App" was officially introduced during a launch event held on Saturday at the Grand Eliana Hotel. The app allows users to transfer funds at any time, pay bills, top up mobile airtime, and send money to telebirr wallets for themselves or others. The newly introduced card service enables customers to withdraw cash from any ATM and make payments via Point of Sale (P...