Gadaa Bank announced that it had started operation with Birr 552 million paid-up capital and Birr 1.1 billion subscribed capital. The bank has more than 28 thousand shareholders.

The bank held its first subscribers’ meeting last year in the presence of the President of Oromia Regional State, Shimels Abdissa, and other officials after it raised a paid-up capital of Birr 600 million. According to Addis Fortune, one of the largest English Newspapers in Ethiopia, enterprises and companies based in Oromia Regional State hold a large stake in the bank.

Source: Fana BC and Addis Fortune

Image source: Fana BC