A significant partnership was established today, April 28, 2025, at the Cooperative Bank of Oromia’s head office in Addis Ababa, Ethiopia. The bank and the Hailemariam & Roman Foundation (HRF) signed a Memorandum of Understanding (MoU) aimed at promoting financial inclusion and empowering youth in the Southern Ethiopia region.
The MoU was signed by H.E. Roman Tesfaye, the Former First Lady of Ethiopia and CEO of HRF, and Mr. Deribe Asfaw, Chief Executive Officer of the Cooperative Bank of Oromia. The event was attended by management and program teams from both organizations, highlighting a shared commitment to sustainable development and economic empowerment.
In this MoU, Cooperative Bank of Oromia and HRF will collaborate on the Youth Self-Employment in Southern Ethiopia Region (YES) Project, which is being implemented in partnership with the Mastercard Foundation. This initiative seeks to create self-employment opportunities for young people and aims to provide tailored financial solutions, including customized loan products, financial literacy training, and capacity-building initiatives.
H.E. Roman Tesfaye emphasized the significance of financial inclusion for empowering youth, especially in pastoral communities. “This partnership represents our collective vision to uplift underprivileged rural community. Access to finance is crucial, as 80% of our population lives in rural areas. By economically empowering & creating livelihood of the people at grass root level, we can pave the way for sustainable economic growth. Together, we aim to empower 70% of young women, recognizing that investments in women yield higher returns for our communities.”
“The partnership with HRF is a vital step in enhancing access to finance for youth at the grass root level,” said H.E. Deribe Asfaw. “We are dedicated to fostering an environment where young entrepreneurs can thrive, contributing to Ethiopia’s economic transformation. Our focus on the agricultural and pastoral sectors, where 60% of our capital is invested, underscores our commitment to these communities.”
The MoU is set to remain in effect for three years, with ongoing evaluation and opportunities for refinement to ensure the partnership meets its objectives.
