Diaspora
Diaspora
Diaspora Banking
Cooperative Bank of Oromia (CBO) has undergone massive transformation in recent years by adopting culture of quality customer services that aligns with contemporary banking services. Currently, CBO is the leading bank in terms of both customer base with more than 5.3 million customers as of June 2019 and 416 branches network across the country and has more than 39 billion in assets.
Following the favorable political environment prevailing in Ethiopia, Diasporas are coming back to their homeland and have interests to engage in different investment opportunities. Keeping that in mind, Coopbank wishes to entrust you with a number of products designed for your needs while ensuring a smooth partnership, no matter where you are in the world.
Our array of diaspora banking products and services on both Conventional and Interest Free Banking Windows among others, include: -
Diaspora Investment Financing
Diaspora Investment Financing
Coopbank offers an investment credit facility to enhance the potential of Diasporas to develop larger, more productive businesses investing in meaningful programs in their home country that can create jobs and economic growth back home.
Features
- Term loans for financing projects such as manufacturing or purchase of capital assets,
- The bank can finance up to 80% of the feasible project promoted by the diaspora,
- 20% of the project shall be financed by the promoter from his/her own equity,
- The equity contribution made to the project shall be transferred via Coopbank.
Benefits
- It helps to expand an existing business,
- It helps to engage in new investment in different sectors such as services, manufacturing, hotel, construction, real estate, etc.
- The amount of the loan is determined by the projected cash flow and income of the borrower as well as the cost of the project,
- It has an attractive rate with a reasonable repayment plan,
- Fast processing and approval time.
Requirement
Documents required to borrow for projects include documents such as:
- Investment Loan application forms that are properly filled and signed by the applicant,
- A valid passport and/or identification card,
- Investment license,
- TIN,
- Landholding certificate/lease agreement,
- An approved construction plan,
- Memorandum and Article of Association (if any), and
- Project proposal.
Eligibility
- Non-resident Ethiopian nationals living and working outside Ethiopia,
- Non-resident foreign nationals of Ethiopian origin,
- Companies owned by the above-mentioned non-residents and located outside the Ethiopian territory for more than one year,
Ethiopian nationals living and working abroad who can produce authenticated documents.
Diaspora Banking
Diaspora Banking
Coopbank’s Diaspora accounts are accounts offered to non-residential Ethiopian Nationals working and living outside of Ethiopia for more than one year, non-resident foreign nationals who had been Ethiopian National before and business entities owned by the above mentioned.
The bank has undergone massive transformation in recent years by adopting culture of quality customer services that aligns with contemporary banking services. Currently, CBO is the leading bank in terms of both customer base with more than 5.3 million customers as of June 2019 and 416 branches network across the country and has more than 39 billion in assets.
Following the favorable political environment prevailing in Ethiopia, Diasporas are coming back to their homeland and have interests to engage in different investment opportunities. Keeping that in mind, Coopbank wishes to entrust you with a number of products designed for your needs while ensuring a smooth partnership, no matter where you are in the world.
Our array of diaspora banking products and services on both Conventional and Interest Free Banking Windows among others, include: –