Microfinance Turned Bank Embarks on Securities Exchange Investment
Siinqee Bank has taken a significant step towards the realisation of the inaugural securities exchange by making a 50 million Br equity investment in the Ethiopian Securities Exchange (ESX). The agreement was signed last week between Neway Megerssa, president of Siinqee and Tilahun Kassahun, CEO of Exchange, at the Bank's headquarters on Tito St.
Siinquee Bank, which transitioned from a microfinance institution to a full-fledged bank, has rapidly expanded its branch network, reaching 530 branches across the country in less than two years. As part of the deal, it becomes a five percent stake...