Month: October 2026
Coopbank Launches ‘Michuu-Mizan’, a Sharia-Compliant Digital Financing Platform
Coopbank, through its Interest-Free Banking Coopbank Alhuda, in partnership with Kifiya Financial Technology, has officially launched Michuu-Mizan, an innovative AI-powered digital financing platform, at Sheraton Addis Hotel.
Designed to expand access to Sharia-compliant financing, the platform leverages Artificial Intelligence (AI) and advanced digital financial technology to address the financing needs of Micro, Small, and Medium Enterprises (MSMEs).
Speaking at the launch ceremony, Mr. Deribie Asfaw, CEO of Coopbank, emphasized that Michuu-Mizan will address the challenges faced by businesses seeking financing solutions aligned with their values. He also highlighted the Bank's achievement of disbursing over ETB 70 billion through its collateral-free digital lending service, Michu, noting that the new platform further expands the Bank's inclusive financing services.
Mr. Munir Duri, CEO of Kifiya Financial Technology, highlighted the platform's AI-driven, data-based decision-making capabilities and advanced financial technology infrastructure, which will help underserved businesses access Sharia-compliant financing and support their growth.
Michuu-Mizan introduces two financing solutions tailored to different business needs:
Michuu-Mizan Yusra : Provides financing of up to ETB 100,000 to strengthen women's economic participation.
Michuu-Mizan Taajir: Offers eligible MSMEs financing of up to ETB 300,000 to support working capital requirements and business expansion.
Through this initiative, Coopbank further strengthens its commitment to expanding financial inclusion, supporting enterprise development, promoting sustainable growth, and delivering innovative financial solutions.
The launch marks another step in advancing the Bank's purpose of Empowering Communities, Transforming Lives!
Coopbank Joins CoopRun 2026 Ahead of the First ICA-Africa Conference in Ethiopia
Cooperative Bank of Oromia (Coopbank) joined participants at Arada Park in Addis Ababa for CoopRun 2026, an event promoting cooperation, solidarity, and decent work for all.
Organized as part of the activities leading up to the first ICA-Africa Conference in Ethiopia, the event was held under the theme “Cooperatives: Decent Work for All.”
As a member of ICA-Africa, Coopbank is proud to contribute to hosting this landmark conference in Ethiopia. The Bank remains committed to advancing the cooperative movement and promoting collective action that creates opportunities, strengthens communities, and transforms lives.
The event was attended by Coopbank CEO, Mr. Deribie Asfaw, senior ICA-Africa representatives, and other participants united by a shared commitment to cooperation and decent work for all.Through its participation, Coopbank reaffirms its dedication to the cooperative movement and its role in building a more inclusive and sustainable future.
Coopbank Holds Its 22nd Ordinary General Assembly in Adama
Coopbank held its 22nd Ordinary General Assembly of Shareholders at Galma Abbaa Gadaa in Adama City, bringing together shareholders to review the Bank’s performance, assess key achievements, and discuss strategic directions for continued growth.
During the assembly, Mr. Abnet Tarekegn, Vice Chairperson of the Board of Directors, presented the Bank’s performance report for the 2025/26 fiscal year, highlighting progress in digital financial services, agricultural financing, digital lending, deposit mobilization, and foreign exchange earnings.
Digital Financial Services: Coopay E-birr reached 22.3 million users, with wallet savings totaling ETB 5 billion. The platform facilitated 987.03 million digital transactions, with a total transaction value of ETB 2.74 trillion.
Agricultural Financing: The Bank disbursed more than ETB 6 billion in digital agricultural loans to over 67,000 farmers, expanding access to finance for the agricultural sector.
Michu Digital Loans: Michu disbursed more than ETB 60 billion through approximately 3.169 million loan accounts, supporting micro, small, and medium enterprises (MSMEs) and promoting entrepreneurship.
Deposit Mobilization: The Bank secured ETB 18.07 billion in additional deposits, bringing total deposits across conventional and interest free banking services to ETB 193.26 billion.
Foreign Exchange and Profitability: Coopbank generated USD 570.8 million in foreign exchange earnings and recorded a profit before tax of ETB 11.47 billion.
The assembly reviewed the presented report and other agenda items, providing direction for the Bank’s future priorities and continued institutional growth.
The successful conclusion of the 22nd Ordinary General Assembly reaffirmed Coopbank’s commitment to financial innovation, inclusive growth, and sustainable value creation for its shareholders, customers, and the communities it serves.
Coopbank Celebrates 8th Cooperatives Day Under the Theme
Coopbank has celebrated the 8th Cooperatives Day, reaffirming its commitment to advancing Ethiopia’s cooperative movement through accessible financial services, technological innovation, and sustainable partnerships.
The celebration featured “Coop-Expo 2026,” where cooperatives and unions showcased their products and services, exchanged best practices, shared experiences, and explored opportunities for innovation and positive change.
Speaking at the event, Coopbank CEO Mr. Deribie Asfaw highlighted the vital role of cooperatives in achieving sustainable development and building an inclusive economy. He emphasized the Bank’s continued efforts to strengthen cooperatives’ capacity, improve operational efficiency, and unlock their potential through modern financial solutions.
Through its financial services and support for cooperative development, Coopbank plays a significant role in strengthening the sector, expanding financial inclusion, and promoting employment creation. Ethiopia’s cooperative movement comprises approximately 90,000 primary cooperatives, 400 unions, and five federations, representing more than 30 million members and creating over four million jobs. Coopbank’s continued engagement helps cooperatives enhance productivity, modernize their operations, and contribute to sustainable economic growth.
Federal Cooperative Commission Commissioner Mr. Getnet Tadesse commended Coopbank for its efforts to expand access to finance for cooperatives. He also highlighted the sector’s potential to empower youth and women, increase productivity, and expand market opportunities.
The event concluded with awards and recognition for outstanding cooperatives and unions in acknowledgment of their achievements and contributions to the cooperative movement.
Through its continued commitment, Coopbank remains dedicated to empowering cooperatives, promoting decent work, and advancing inclusive and sustainable economic development across Ethiopia.