Cooperative Bank of Oromia (Coop) agreed with the Ethiopian Securities Exchange (ESX) to acquire shares valued at ETB 60 million. The signing ceremony, held at Coop’s Head Office, Mr. Liko Tolesa, VP of Human Capital and Project Management, underlined ESX’s pivotal role in securing additional financing and fostering investment opportunities. He emphasized that the decision aligns perfectly with Coop’s commitment to driving economic growth.
This move marks a significant milestone for Coopbank, demonstrating its unwavering support for Ethiopia’s economic advancement. Mr. Liko remarked, “Through prudent investments and strategic initiatives, Coop Bank continues to play a pivotal role in shaping the future of the financial sector in the community.”
Expressing gratitude, Dr. Tilahun E. Kassahun, CEO of the Ethiopian Securities Exchange, welcomed Coopbank as a founding member and highlighted the timely nature of their investment decision as ESX wraps up its capital-raising process. He expressed confidence that Coopbank’s involvement will greatly benefit ESX and contribute to Ethiopia’s capital market development.
Source: Ethiopian Business Review
