What we are doing during the Covid -19 Outbreak

Since the outbreak of a deadly disease, COVID-19, Cooperative Bank of Oromia has been undertaking various measures and hugely contributed to the efforts being made to combat its spread nationwide. Among many, inter alia,

Donation and Awareness Creation

• Donated ETB 5 million to the national committee established to combat COVID-19 via Ministry of Health.
• Donated ETB 3 million to the Oromia Regional State to help combat the virus.
• Temporarily gave its buildings to Oromia Regional State in Nekemte and Kuyu towns for this purpose to be used if the pandemic gets out of control.
• Created awareness on several media about the virus to the general public and all branches of the bank have been engaged on the awareness creation activities.

Employees of the Bank

• Procured and distributed to its branches and work units 26,000 facemasks that worth more than 3 Million and more than 4000 litres of sanitizer and alcohols worth about ETB 1 Million.
• Arranged a shift service for its staff so that only few people can stay at work units while others be at home.
• Provided different kinds of leave arrangement for its Staff:
  • Paid Leave
  • Advance Leave
  • Vulnerability Leave – For pregnant women as well as employees who have compromised immunity.

• In the process of arranging Transportation services for the Staff living in Addis Ababa and major towns all over the country.
• Employees of the bank across the country are supporting the prevention activities in their respective localities both financially and voluntarily.

Preparations at branches

• Prepared hand washing materials and water at the gate of all the 416 branches of the bank.
• Enforced physical distancing of customers as they come to the branches to avoid the risk of infection to our customers.

Fees and Interest Rates

• Waived all fees from digital banking platforms including; ATMs, Coopay (Mobile Banking)
• Waived LC extension fees;
• Reduced Interest Rates, especially to the sectors largely hit by the pandemic. Interest rate reduction up to 4% has been made on the following sectors;
  • Cooperatives
  • Domestic Trade Service
  • The Hotel Industry
  • Manufacturing
  • Agriculture
  • Merchandise
  • Vehicle Loan
  • Building and Construction, Machinery
  • Import
  • Personal Loans/Mortgages

by Biruk Hailu