Month: April 2026
Coopbank Drives SDG Action at ARFSD-12
Cooperative Bank of Oromia recently took center stage at the 12th Africa Regional Forum on Sustainable Development in Addis Ababa. Speaking at a high-level Fireside Chat, CEO Mr. Deribe Asfaw emphasized that for Coopbank, aligning with the Sustainable Development Goals (SDGs) is a fundamental identity rather than a policy choice. By scaling purpose-driven innovation and digital ecosystems, the bank now contributes to more than 60% of the SDGs in Ethiopia.
The bank’s impact is evidenced by over 22 million digitally enabled customers and ETB 52.5 billion in credit disbursed through the Michu platform. These initiatives have financed approximately 3 million MSMEs with 80% inclusion for youth and women and supported the creation of 2.7 million jobs. By addressing the structural barriers that leave 70% of smallholder farmers without formal credit, Coopbank is leveraging data-driven, collateral-free financing through platforms like Michu and Farmpass to drive national economic participation.
Mr. Deribe Asfaw concluded by noting that the bank is successfully turning global goals into tangible action. By scaling what works and delivering impact where it matters most, the Cooperative Bank of Oromia continues to transform financial inclusion into a powerful engine for broad economic transformation across the region.
Coopbank and UNDP Sign MoU to Strengthen Climate Risk Management in Agriculture
The Cooperative Bank of Oromia (Coopbank) and the United Nations Development Programme (UNDP) have signed a Memorandum of Understanding (MoU) to strengthen climate risk management in Ethiopia’s agricultural sector through innovative financial solutions.
The partnership aims to bridge the agricultural financing gap by embedding climate insurance into Coopbank’s lending operations, thereby enhancing resilience for smallholder farmers facing climate-related shocks.
Under the agreement, UNDP will provide technical assistance including the establishment of a dedicated Insurance Desk at the bank, climate risk analytics for loan portfolios, co-design and piloting of credit-linked insurance products, capital mobilization support, and capacity building in climate risk and insurance product development.
Speaking at the signing ceremony, Coopbank CEO Mr. Deribie Asfaw highlighted the importance of the partnership in leveraging UNDP’s global expertise to strengthen financial inclusion and expand support for farmers across Ethiopia. The initiative, supported by UNDP’s Insurance and Risk Finance Facility (IRFF) under the Financial Resilience in Agriculture (FRA) program, represents a key step toward integrating insurance into agricultural lending and building a more climate-resilient agricultural finance system in Ethiopia.
Coopbank Named Mastercard’s Top Farm Pass Partner in Africa for 2025
Coopbank is proud to be recognized by Mastercard as the Top Performing Farm Pass Partner in Africa for 2025, marking a major milestone in its efforts to digitally transform Ethiopia’s agricultural sector.
This recognition reflects Coopbank’s strategic commitment to modernizing agricultural value chains through the rollout of the Farm Pass platform across seven regions in Ethiopia. To date, the platform has onboarded nearly 600,000 farmers and over 1,070 cooperatives.
Through Farm Pass, cooperatives have digitized their operations, joined a digital marketplace, and established structured connections with off-takers. At the same time, farmers have been digitally profiled and onboarded, enabling the capture of verified production, transaction, and market data.
As a result, previously informal agricultural activities are being transformed into visible, trusted, and finance-ready digital records, enabling thousands of farmers to access data-driven credit while strengthening agricultural value chains end-to-end.
Coopbank CEO Mr. Deribie Asfaw and his team received the award during a ceremony held at the Coopbank Head Office, where it was presented by Mr. Shehryar Bakht Ali, Senior Vice President and Country Manager for East Africa and the Indian Ocean Islands at Mastercard, and his team.
This recognition highlights Coopbank’s continued leadership in advancing inclusive digital finance and promoting farmer-centric innovation across Ethiopia.
Michu Reaches ETB 50 Billion, Transforming Digital Lending in Ethiopia
Michu Digital Loan, Ethiopia’s first collateral-free digital lending service by Cooperative Bank of Oromia in partnership with KIFIYA Financial Technology, has achieved a remarkable milestone, disbursing over ETB 50 billion in just three and a half years.
Since its launch, Michu has played a transformative role in expanding access to finance, empowering millions of citizens and supporting entrepreneurs across the country. Through 2.8 million accounts, the platform has delivered fast, convenient, and uncollateralized loans, helping individuals and small businesses grow and thrive.
As a pioneer in digital lending, Michu continues to drive financial inclusion in Ethiopia by offering tailored solutions for diverse customer needs:
- Up to ETB 300,000 through Michu Wabi, designed for formal businesses
- Up to ETB 75,000 through Michu Kiyya, designed specifically for women entrepreneurs
- Up to ETB 15,000 through Michu Guya, designed for informal businesses
To ensure users always enjoy the best experience, the Michu platform is continuously updated, introducing new features and improvements to better serve entrepreneurs and businesses at every stage.
By providing flexible, collateral-free financing, Michu is not only transforming digital lending in Ethiopia but also unlocking new opportunities and driving inclusive economic development across the nation.
Whether your business is just starting out or already running, now is the perfect time to seize this opportunity and grow your venture.