News
Financial Inclusion Without Borders: Coopbank and UNHCR Launch the LIFT Program
Addis Ababa - In a major stride toward comprehensive financial inclusion, the Cooperative Bank of Oromia (Coopbank) and UNHCR Ethiopia have officially signed a landmark Memorandum of Understanding (MOU) to launch the Livelihood Inclusion via Fintech Technology (LIFT) Program. This pioneering initiative is dedicated to expanding access to formal banking services for refugees, returnees, and host communities across Ethiopia.
For displaced and underserved populations, a lack of access to formal financial tools is often more than just an inconvenience—it represents a critical roadblock to entrepreneurship, self-reliance, and long-term socio-economic stability. The LIFT Program aims to dismantle these systemic barriers by deploying innovative fintech solutions, establishing sustainable pathways toward economic resilience and empowerment.
Speaking on the strategic significance of the partnership, Coopbank CEO, Mr. Deribie Asfaw, emphasized the transformative potential of the initiative:
“We believe that inclusive finance has the power to transform lives, strengthen communities, and unlock economic opportunities for people who have historically been excluded from formal financial systems. Access to financial services is more than a banking issue; it is a pathway to dignity, opportunity, and self-reliance.”
By integrating UNHCR’s deep expertise in refugee protection and community advocacy with Coopbank’s robust digital financial ecosystem and expansive nationwide branch network, the partnership is uniquely positioned to turn structural development challenges into scalable, real-world opportunities for thousands of individuals.
At Coopbank, our commitment goes beyond providing traditional banking solutions. We are dedicated to engineering inclusive financial ecosystems where everyone, regardless of their background or circumstance, has the necessary tools to build a brighter, more secure future.
To learn more about the strategic objectives and implementation roadmap of this partnership, access the official press release via the link below:👉 [Read the Full Press Release Here]
Coopbank and Zagol System Trading PLC Sign Strategic Partnership to Expand Digital Services
Addis Ababa, Ethiopia – Coopbank and Zagol System Trading PLC have signed a Memorandum of Understanding (MoU) to expand digital payment services and enhance customer convenience through innovative technology integration.
This strategic partnership strengthens Coopbank’s position as a leading digital bank committed to innovation and customer-centric solutions. Through the expanded Coopay E-birr ecosystem, customers will be able to seamlessly pay for international airline tickets, hotel bookings, and transportation services from a single platform.
The service will enable customers to choose convenient flight routes and competitive pricing from more than 12 major global airlines, including Ethiopian Airlines, Emirates, Qatar Airways, flydubai, Air Arabia, Egypt Air, Saudia, Kenya Airways, Turkish Airlines, Air Algerie, Etihad, and others, all accessible easily via Coopay E-birr.
In addition, the agreement enables customers to make payments for digital services provided by Zagol System Trading PLC through Coopay E-birr, ensuring a fully integrated and seamless digital payment experience.
By combining Zagol’s advanced technology capabilities with Coopbank’s strong financial ecosystem, the partnership unlocks new opportunities for seamless transactions, improved accessibility, and enhanced customer experience.
This collaboration reflects Coopbank’s continued commitment to digital transformation and delivering modern banking solutions that simplify everyday life while connecting customers to global opportunities.
Coopay E-birr Surpasses ETB 6 Trillion
Coopay E-birr Surpasses ETB 6 Trillion in Transaction Value
We are proud to announce that Coopbank’s Coopay E-birr, a simple, convenient, and secure digital payment platform, has surpassed ETB 6 Trillion in transaction value. This remarkable achievement reflects the trust and confidence of more than 22.4 million customers, supported by our extensive network of over 42,000 agents and 369,000 merchants across the country.
With this incredible growth, Coopay E-birr ranks third among Ethiopia’s leading digital financial service platforms and proudly stands as the number one digital financial service platform among private banks.
We extend our heartfelt gratitude to our valued customers, agents, and merchants whose trust, loyalty, and partnership have made this milestone possible. This achievement belongs to all of us and stands as a testament to the power of collaboration, innovation, and shared success.
As we celebrate this milestone, we remain committed to expanding access to secure, convenient, and innovative digital financial services that empower individuals, businesses, and communities across Ethiopia.
Join Coopay E-birr today and enjoy a seamless digital banking experience for utility payments, shopping, entertainment, instant money transfers, and many other modern financial services.
Coopbank, TerraPay and Quantoz Launch Blockchain-Based Remittance Settlement for Inward Remittances to Ethiopia
Addis Ababa, Ethiopia, May 6, 2026- Coopbank in partnership with global payments infrastructure company TerraPay, has announced the launch of a blockchain-based settlement system for inward remittances to Ethiopia. This initiative marks a significant step toward faster, more transparent, and more reliable cross-border financial services.
Ethiopia, one of Africa’s largest remittance-receiving countries with inflows exceeding USD 5 billion annually, is undergoing financial sector reforms aimed at improving efficiency and transparency in foreign exchange and cross-border payments.
The initiative supports euro-denominated remittance flows from Europe by combining TerraPay’s global cross-border payments network, Coopbank’s nationwide banking reach, and regulated digital euro settlement infrastructure provided by Quantoz Payments. Together, these components enhance efficiency, transparency, and reliability across the remittance corridor.
By integrating advanced digital settlement mechanisms with Coopbank’s extensive banking network, the bank continues to strengthen its position as a leading digital financial services provider. The initiative also extends the reach of inward remittances across Ethiopia’s domestic financial system, supporting households and communities nationwide while remaining fully aligned with local banking and regulatory requirements. This aligns with Coopbank’s purpose of empowering communities and transforming lives.
Coopbank CEO Mr. Deribie Asfaw stated that inward remittances are vital to both households and the wider economy. “Through this collaboration, Coopbank enhances its role as a leading digital bank, delivering secure, fast, and fully compliant remittance services while supporting financial inclusion and expanding access to reliable financial solutions nationwide.”
TerraPay CEO Ambar Sur noted that the collaboration delivers infrastructure that is faster and more reliable for diaspora remittances and can be extended to other global corridors. Quantoz CEO Arnoud Star Busmann highlighted that regulated digital euro instruments enable transparent and compliant settlement while reducing the need for costly pre-funding.The initiative is supported by the Inclusive Financial Technology Foundation (INFTF), which said it lays the foundation for modernizing cross-border settlement infrastructure and expanding financial inclusion in emerging markets.
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.
Coopbank Officially Launches VISA Card Services and “Travel to FIFA World Cup 2026™” Campaign
Coopbank has announced a major milestone in its digital transformation journey with the official launch of its International Card Services in partnership with Visa. This initiative marks a significant step toward expanding modern, secure, and globally accepted payment solutions for its customers.
As part of the launch, the Bank has introduced a suite of VISA card products tailored to different customer segments. These include the VISA Classic Debit Card (available in both Conventional and Interest-Free versions), the VISA Classic Prepaid Card designed for international travelers, and the VISA Platinum Prepaid Card, which offers enhanced services for high-value customers.
To commemorate this milestone, Coopbank has also unveiled the “Travel to FIFA World Cup 2026™” campaign, offering customers a unique opportunity to attend the FIFA World Cup 2026 in North America.
Through this campaign, two lucky customers, each accompanied by one guest, will win a fully sponsored travel package. The package includes round-trip airfare, accommodation, meals, match tickets, and other related expenses, enabling winners to experience one of the world’s most prestigious sporting events live.
The campaign is designed to encourage customers to adopt digital payment solutions and actively use their Coopbank VISA cards for both domestic and international transactions. By doing so, customers not only benefit from secure and convenient banking services but also stand a chance to win this once-in-a-lifetime experience.
Coopbank remains committed to delivering innovative financial solutions that enhance customer experience while connecting them to global opportunities.
Customers are encouraged to start using their VISA cards today and take part in this exciting journey to the FIFA World Cup 2026™.
Coopbank Celebrates 21 Years of Excellence
Coopbank celebrated its 21st Anniversary with a series of events held at the Head Office, District, and Branch levels across the country. The celebrations brought together the Bank’s leadership and employees to commemorate more than two decades of growth, innovation, and steadfast commitment to its purpose of “Empowering Communities and Transforming Lives.”
Over the past two decades, Coopbank has grown into one of the leading banks in Ethiopia, driven by its strong focus on financial inclusion, digital transformation, and customer-centric services. The Bank continues to empower entrepreneurs and small businesses through uncollateralized digital loans provided via its Michu platforms, while facilitating seamless transactions through Coopay E-birr, its digital payment ecosystem. Coopbank also remains committed to supporting cooperatives and farmers through tailored financial solutions that enhance productivity and promote sustainable economic development.
As it marks this significant milestone, Coopbank reaffirms its commitment to innovation, customer-centric service, and expanding inclusive financial opportunities for communities across the country
Coopbank Celebrates International Women’s Day 2026
Coopbank, renowned for its commitment to empowering women for a brighter future, proudly celebrated International Women’s Day 2026. The occasion was marked by a vibrant gathering at the Bank’s Head Office, bringing together senior leaders and outstanding women professionals who are making remarkable contributions in leadership and frontline roles across the institution.
The celebration highlighted the Bank’s continued dedication to promoting gender equality and recognizing the vital role of women in driving innovation, strengthening communities, and shaping a more inclusive future. Through its inclusive workplace culture and targeted financial solutions, Coopbank remains steadfast in its mission to empower women and support their journey toward economic independence and leadership.
