News
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.
Coopbank Achieves ISO/IEC 27001:2022 Certification
Cooperative Bank of Oromia is proud to announce that it has officially obtained the ISO/IEC 27001:2022 certification, recognizing the Bank’s strong performance in payment systems security, customer information protection, and digital banking operations.
Successfully completing this rigorous certification process in less than six months, despite infrastructure capacity constraints, diverse payment platforms, and high transaction volumes, marks a significant milestone in the Bank’s continued digital transformation journey.
This achievement reflects strong leadership, effective teamwork, robust stakeholder collaboration, and disciplined project management across the organization.
Most importantly, it reaffirms our unwavering commitment that customer information security is not only our highest priority, but also a fundamental pillar of our institutional purpose.
Coopbank Achieves PCI DSS v4.0.1 Certification!
We are thrilled to announce that Coopbank has officially achieved PCI DSS v4.0.1 Certification, the premier global benchmark for payment security. This landmark achievement was formally recognized by ControlCase at the 15th Annual Global Conference 2026, positioning Coopbank at the forefront of global data security and operational excellence.
Completing this rigorous certification in under six months is an extraordinary accomplishment for an institution of our scale. It reflects the resilience of our complex payment ecosystems and our ability to manage high transaction volumes with world-class precision and speed.
This milestone goes far beyond simply meeting standards it is a testament to Coopbank’s strategic commitment to data privacy and robust security. Through the dedicated collaboration of our leadership, cross-functional teams, and partners, we have strengthened and future-proofed our digital infrastructure.By achieving this standard, we are laying a solid foundation for the future of digital banking and payment innovation. This is a proud moment for our organization and partners, but most importantly, it is a promise kept to our customers: your security is not just a priority, it is our mission.
Coopbank Launches Digital Lottery Sales Service
Addis Ababa, January 13, 2026 – Coopbank has officially launched its Digital Lottery Sales Service through Coopay E-birr, marking a major milestone in Ethiopia’s digital transformation toward 2030. The launch was held alongside a Foreign Exchange Customer Awards Ceremony, where 63 winners received prizes including a BYD Seagull electric car, two electric bicycles, and laptops. Implemented in collaboration with the Ethiopian Lottery Service and TamCom Software Solutions, the service provides a secure, convenient, and fully digital way to participate in lottery sales via Coopbank branches or the Coopay E-birr mobile wallet.
Speaking at the event, Abdi Fekede, Acting Chief Operating Officer of Coopbank, said, “Customers can now easily access lottery sales through Coopbank or Coopay E-birr, the country’s third-largest mobile wallet with over 21 million users and more than 4.8 trillion birr in transactions processed.”
With its user-friendly, secure platform, Coopay E-birr is set to make digital lottery participation widely accessible, reflecting Coopbank’s commitment to financial innovation, digitalization, and enhanced customer engagement.