The Ethiopian Defense Foundation and the Ministry of Defense are preparing to establish the first army bank in Ethiopia. The Army Foundation has a deep conviction in the necessity of an army bank, and preparation work is currently continuing, according to Martha. - Advertisement -10 years ago was when the very first attempt was made to establish the army bank. In addition to contributions from other sources, capital for the army bank is anticipated from the Foundation. Nevertheless, there is not yet a well-defined roadmap that indicates whether the Army Bank will offer shares to the general public or whether the shareholders will be limited to institutional stakeholders.

Source: Ethiopian News February 19, 2023 07:53 UTC