The Commercial Bank of Ethiopia (CBE) and the Ethiopian Insurance Corporation (EIC) have entered into a strengthened partnership agreement aimed at deepening collaboration between banking and insurance services and expanding financial access across Ethiopia.
The agreement was signed at CBE headquarters by Dr. Eskinder Asfaw, Vice President of Wholesale Banking at CBE, and Ato Abel Tadesse, CEO of the Ethiopian Insurance Corporation. Both institutions framed the partnership as a strategic move to enhance service integration, improve risk coverage, and broaden customer access to essential financial products.
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A central focus of the agreement is improving insurance coverage within CBE’s expanding credit portfolio, particularly in agricultural financing. This includes the integration of crop development credit services with tailored insurance solutions to support farmers and reduce exposure to financial risk.
The partnership also introduces a mechanism allowing customers to access insurance services through bank credit, easing payment constraints and improving affordability. In addition, the agreement covers the integration of digital payment systems, distribution of insurance products through CBE branches, and improved interoperability between the two institutions’ customer services.
EIC CEO Ato Abel Tadesse said the collaboration will significantly enhance the corporation’s ability to expand insurance access nationwide, particularly in underserved areas. He noted that working closely with CBE will strengthen financial inclusion efforts and support broader economic participation.
The agreement is expected to deepen coordination between banking and insurance operations, strengthen risk management in lending, and support Ethiopia’s ongoing efforts to expand inclusive financial services, especially in rural and agricultural sectors.
