My Opinion | Feb 14,2026
Central bank governor Yinager Dessie (PhD) (centre) shares a lighthearted moment with the founding management team of Ahadu Bank S.C., the latest addition to the banking industry. Mekonnen Semu (left), vice board chairperson; Eshetu Fantaye (second from left), president; Anteneh Sebsebie (second from right), board chairperson; and Tigabu Haileyesus, board director, appeared to be in a good disposition coming out on the other end of a two-year journey since promoters began raising equity from the public.
Ahadu Bank joined the industry with three branches, distinguished for their deep black-and-red layouts, with a plan to open 47 more by October. It has a subscribed capital of 702 million Br, with 80pc paid from around 10,000 shareholders. It plans to reach the five billion Birr minimum paid-up capital threshold in three years, as required by the National Bank of Ethiopia (NBE). The journey to opening its doors to the public has not been without challenges. COVID-19 and political instability have made mobilising equity demanding, according to Board Chairperson Anteneh. The future promises significant challenges to Ahadu, a Ge'ez word for "one". With a slowing economy and inflation pushing real savings rates into the negative, mobilising deposits is a task of the highest order.
A major obstacle will be the shortage of finance professionals as the number of banks grows. Poaching has become standard practice, particularly to fill up senior positions. The competition for limited talent is pushing up salaries and benefits as banks attempt to one-up each other. Given the heavy reliance on physical offices for savings mobilisation, charming the skilled workforce will keep Ahadu's founding management team's nose to the grindstone.
You can read the full story here
PUBLISHED ON
Jul 17,2022 [ VOL
23 , NO
1159]
Agenda | Jan 18,2020
Viewpoints | Nov 30,2024
Radar | Aug 07,2021
Radar | May 31,2025
Radar | Jun 22,2024
Dec 22 , 2024 . By TIZITA SHEWAFERAW
Charged with transforming colossal state-owned enterprises into modern and competitiv...
Aug 18 , 2024 . By AKSAH ITALO
Although predictable Yonas Zerihun's job in the ride-hailing service is not immune to...
Jul 28 , 2024 . By TIZITA SHEWAFERAW
Unhabitual, perhaps too many, Samuel Gebreyohannes, 38, used to occasionally enjoy a couple of beers at breakfast. However, he recently swit...
Jul 13 , 2024 . By AKSAH ITALO
Investors who rely on tractors, trucks, and field vehicles for commuting, transporting commodities, and f...
Jul 25 , 2026
Ideally, citizens who have paid income tax all year should not have to reach for thei...
Jul 18 , 2026
Pressed in Parliament on jobs and household incomes, Prime Minister Abiy Ahmed (PhD)...
Jul 11 , 2026
At a market stall, reform arrives without a communique. It comes as a higher transpor...
Jul 4 , 2026
In the goldfields of the Benishangul-Gumuz Regional State, Ethiopia's balance-of-paym...
Loading your updates...