Dashen Bank
Dashen Bank S.C. is a private Ethiopian commercial bank founded in 1995 and headquartered in Addis Ababa, serving agricultural exporters, SMEs, smallholder farmers, and retail customers via its Super App, Fayda digital ID-based accounts, and Mastercard virtual international payment cards.
- Company typePrivate
- Founded1995
- HeadquartersAddis Ababa, Ethiopia
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What Dashen Bank does
Dashen Bank S.C. is a private Ethiopian commercial bank founded in 1995 and headquartered in Addis Ababa. It operates with a workforce of 1,001-5,000 employees and serves a diversified customer base spanning agricultural exporters, smallholder farmers, small and medium enterprises (SMEs), and retail digital banking customers. The bank has positioned itself as a digitally oriented institution within Ethiopia's tightly regulated banking sector and was the first recipient of foreign investment in Ethiopia's financial sector under newly liberalized regulations.
The bank's core offerings include its flagship "Super App" digital banking platform — which has surpassed 2 million users, processed over 25 million transactions, and handled 250 billion birr in transaction volume — as well as Fayda-based digital ID accounts (the first such deployment in Ethiopia), Mastercard-branded virtual international payment cards, USD-denominated agricultural lending products, and SME financing programs. It integrates with Ethiopia's national digital identity infrastructure (Fayda), providing reach to a population of 40 million-plus potential customers, and has partnered with agritech platforms such as Lersha to extend digital agriculture services to smallholder farmers. Customer acquisition spans branch distribution, agent networks, fintech partnerships, and social media-led campaigns including a 6-million-birr TikTok content creator competition.
Dashen Bank's revenue model is anchored in net interest income from agricultural and SME lending (including USD-denominated export financing), transaction and FX fees from international card products, and digital banking fees from its Super App platform. The bank has attracted more than $60 million in cumulative development finance from British International Investment (BII), FMO, and IFC, with the IFC structure functioning as a risk-sharing facility that supports SME loan disbursement rather than a balance-sheet equity injection. This combination of regulated banking franchise, digital platform scale, and development-finance backing positions Dashen as a digitally native challenger in one of Africa's least penetrated banking markets.
Dashen Bank firmographics
Firmographics- Name
- Dashen Bank
- Legal name
- Dashen Bank S.C.
- Website
- https://dashenbanksc.com
- Company type
- Private
- Founded year
- 1995
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Dashen Bank S.C. is a private Ethiopian commercial bank founded in 1995 and headquartered in Addis Ababa, serving agricultural exporters, SMEs, smallholder farmers, and retail customers via its Super App, Fayda digital ID-based accounts, and Mastercard virtual international payment cards.
- Ownership category
- akta.pro rank
Dashen Bank industry classification
Industry- Product category
- Commercial Banking
- NAICS
- Commercial Banking (52211), Depository Credit Intermediation (5221)
- SIC
- National Commercial Banks (6021)
- akta.pro primary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
- akta.pro secondary industries
- SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), Underbanked/Financial Inclusion Neobanks (FSABAFAJ)
Keywords
Where Dashen Bank is headquartered
LocationHeadquarters
- HQ city
- Addis Ababa
- HQ country
- Ethiopia
- HQ region
- Africa
Offices1 record
Markets served
Dashen Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure
Revenue model
- Interest Income from Agricultural and SME Lending: The bank generates revenue primarily through interest income from loans extended to agricultural exporters and SME businesses. USD-denominated loans to boost agricultural exports and productivity represent a key lending vertical.
- Transaction and Banking Fees: Fees from digital banking transactions, account services, and international payment processing through virtual cards. The Super App has processed over 25 million transactions worth more than 250 billion birr.
Go-to-market motion2 records
Distribution channels2 records
Marketing channels3 records
Dashen Bank product offering
Product offeringCore offering
Dashen Bank is an Ethiopian commercial bank that provides deposit accounts, loans (including USD-denominated agricultural and SME lending), international trade finance, guarantees, and a digital banking Super App with Fayda ID-based onboarding and Mastercard-linked virtual international payment cards. The bank serves both retail consumers through digital channels and agricultural exporters/SMEs through partnership-backed lending facilities.
Product overview
Dashen Bank offers a digital-first banking platform centered on its Super App, which has surpassed two million users and processed over 25 million transactions worth more than 250 billion birr. The product portfolio includes Digital ID-Based Accounts (Fayda) as Ethiopia's first digital ID-linked accounts, a Virtual International Payment Card in partnership with Mastercard for cross-border transactions, and a fully digital onboarding system. The bank also provides USD-denominated agricultural loans through partnerships with BII and FMO. Together, these products form an integrated digital banking ecosystem designed to enhance financial inclusion and support Ethiopia's digital transformation.
Differentiator
Problem solved
Functional benefit
Brands
- Dashen Bank Super App: Digital banking super app with over 2 million users, processing over 25 million transactions worth more than 250 billion birr as of March 2026.
Products and services
- Digital ID-Based Accounts (Fayda) Remote onboarding banking accounts linked to Ethiopia's national Fayda biometric digital ID system, enabling customers to open accounts without visiting a physical branch or providing physical documentation.
- Virtual International Payment Card Mastercard-linked virtual card enabling international payments on global platforms such as Amazon, Alibaba, and Netflix, and supporting inbound remittances for Ethiopian users.
- Dashen Bank Super App Digital banking super app providing digital account opening, payments, transfers, cross-border payments, and remittance services; serves 2 million+ users and has processed over 25 million transactions worth 250+ billion birr.
- Digital Onboarding System Mobile-based remote account opening system using Fayda digital ID verification, enabling customers to open bank accounts digitally without visiting a physical branch.
- USD-Denominated Agricultural Loans Foreign currency loans backed by BII and FMO commitments to support agricultural exporters in Ethiopia, financing productivity improvements, exports, and innovation in agribusinesses.
Quantifiable outcome
- Super App surpassed 2 million users and processed over 25 million transactions worth 250+ billion birr as of March 2026
- +3 more outcomes
Companies that use Dashen Bank
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Dashen Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature4 records
Dashen Bank partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- MastercardcoreDashen Bank partnered with Mastercard to launch virtual international payment cards enabling users to make payments on global platforms including Amazon, Alibaba, and Netflix, while also supporting inbound remittances in a market where global digital payment access has traditionally been limited.
- LershaminorIFC signed a risk-sharing agreement with Dashen Bank to encourage more lending to farmers and small businesses, including support for Lersha, an Ethiopian digital agriculture platform, as part of broader efforts to improve agricultural finance and support economic development.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
Dashen Bank competitors and assessment
Company assessmentDirect peers
- Zemen Bank: Ethiopian private commercial bank offering deposits, lending, and trade finance. Closely comparable peer by activity mix and customer segments.
- Wegagen Bank: Ethiopian private commercial bank providing deposits, lending, and digital services to consumers and SMEs. Comparable in scale and product set to Dashen.
- Cooperative Bank of Oromia: Ethiopian private commercial bank with strong regional (Oromia) presence serving consumers, SMEs, and cooperatives. Comparable private-sector deposit and SME lending focus.
- Lion International Bank: Ethiopian private commercial bank providing consumer and SME banking services. Comparable by product mix though smaller in scale.
- Awash Bank: One of the largest private commercial banks in Ethiopia, offering similar deposit, lending, and trade finance services. Most directly comparable private-sector peer by product mix and customer segments.
- Bank of Abyssinia: Ethiopian private commercial bank offering deposits, loans, and digital banking. Directly comparable peer in terms of customer base, product mix, and emerging digital strategy.
Regional players
- Equity Bank: East African regional bank with strong financial inclusion and digital banking focus. Comparable for the financial inclusion and digital banking playbook, though operating in different East African geographies.
- KCB Bank Kenya: East African regional bank with cross-border presence and digital banking capabilities. Comparable as a regional East African commercial bank expanding digital services, though primarily operating outside Ethiopia.
Broad incumbents
- Commercial Bank of Ethiopia: State-owned largest commercial bank in Ethiopia and dominant incumbent. Directly comparable deposit, lending, and now digital banking (Telebirr) activities, but with much larger balance sheet and government backing.
Emerging players
- Telebirr (Ethio Telecom): State-backed mobile money platform from Ethio Telecom that has become a major digital financial services player in Ethiopia. Direct competitor in the digital wallet / consumer payments space where Dashen's Super App competes.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Dashen Bank social profiles
Digital presenceDashen Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Dashen Bank leadership team
Management profileNumber of profiles
Profiles4 records
Dashen Bank funding detail
Funding detailFunding overview
Funding rounds1 record
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Dashen Bank M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Dashen Bank
What does Dashen Bank do?
Dashen Bank is an Ethiopian commercial bank that provides deposit accounts, loans (including USD-denominated agricultural and SME lending), international trade finance, guarantees, and a digital banking Super App with Fayda ID-based onboarding and Mastercard-linked virtual international payment cards. The bank serves both retail consumers through digital channels and agricultural exporters/SMEs through partnership-backed lending facilities.
Is Dashen Bank a public or private company?
Dashen Bank is a private company. It is classified as unknown and is currently operating.
When was Dashen Bank founded?
Dashen Bank was founded in 1995. It employs 1,001 to 5,000 people.
Where is Dashen Bank based?
Dashen Bank is headquartered in Addis Ababa, Ethiopia, in the Africa region.
How does Dashen Bank make money?
Two revenue lines are on record. Interest Income from Agricultural and SME Lending is the primary driver. The others are transaction and Banking Fees.
Who are Dashen Bank's main competitors?
Direct peers on record are Zemen Bank, Wegagen Bank, Cooperative Bank of Oromia, Lion International Bank, Awash Bank and Bank of Abyssinia. Regional players are Equity Bank and KCB Bank Kenya. Commercial Bank of Ethiopia is listed as a broad incumbent. Telebirr (Ethio Telecom) is listed as an emerging player.
Does Dashen Bank have an API?
No public API is recorded for Dashen Bank.
What industry is Dashen Bank in?
Dashen Bank's product category is Commercial Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings), with a secondary code of FSABABAC, SME Deposits & Business Accounts (Operating, Savings, CDs). Its NAICS code is 52211 and its SIC code is 6021.