AeTrade Group and the Cooperative Bank of Oromia (Coop Bank) have announced a strategic partnership aimed at transforming financial inclusion and economic empowerment across Ethiopia. This collaboration combines innovative digital financial tools with inclusive banking services to uplift underserved communities, particularly women, youth, and small businesses, while supporting Ethiopia’s integration into the African Continental Free Trade Area (AfCFTA).
At a press conference announcing the partnership, AeTrade Group CEO Mulualem Syoum emphasized the transformative potential of this collaboration. “This partnership is a pivotal step toward a more inclusive economy. By introducing solutions like AeTrust and integrated mobile wallets, we are enabling millions of Ethiopians to access financial services, empowering them to thrive in the digital economy,” he stated.
Coop Bank President Derebie Asfaw highlighted the bank’s commitment to rural development and the empowerment of small and medium-sized enterprises (SMEs). “Through this partnership, we are addressing the financial challenges faced by our communities. The Michu Digital Lending platform and cross-border payment solutions will help unlock new opportunities for Ethiopians, making trade more accessible and efficient.”
The partnership will leverage several key features to enhance financial services. The collaboration utilizes AeTrust and Coop Bank’s platforms to deliver affordable and secure services, including collateral-free loans, real-time payments, and multi-currency support for regional trade. Moreover small businesses trading on Sokokuu Marketplace will benefit from pre-approved credit lines and simplified financial management tools, ensuring seamless transactions and sustainable growth. Additionally businesses will gain access to resources that streamline cross-border payments, providing liquidity and enabling participation in continental trade.
This partnership is projected to expand digital financial services to millions of Ethiopians within the next three years, with a particular focus on youth and women entrepreneurs. By strengthening Ethiopia’s financial infrastructure, AeTrade Group and Coop Bank aim to lay the groundwork for sustainable growth, job creation, and enhanced trade connectivity under AfCFTA.
“This partnership is not just about financial services; it’s about creating a future where no one is left behind,” said Mulualem Syoum.
Derebie Asfaw added, “Together, we are building a stronger Ethiopia that is fully integrated into Africa’s economic future.”
The collaboration between AeTrade Group and the Cooperative Bank of Oromia symbolizes a united effort to empower communities, transform businesses, and position Ethiopia as a leader in regional trade. With innovative financial solutions at their disposal, both organizations are committed to fostering an inclusive economy that benefits all Ethiopians.
