Cooperative Bank of Oromia

What Cooperative Bank of Oromia does

Cooperative Bank of Oromia (Coopbank) is a private Ethiopian Share Company operating a digital-first commercial bank headquartered in Addis Ababa, founded in 2004. The bank serves 15.7 million customers across Ethiopia through a portfolio anchored by Coopay-Ebirr (a mobile payment platform processing over ETB 6 trillion for 22.4 million users), Michu (Ethiopia's first collateral-free AI-powered digital lending platform with three variants serving formal MSMEs, women entrepreneurs, and informal traders), and Farmpass (a Mastercard Community Pass-powered agricultural value chain platform connecting 600,000 farmers and 1,070 cooperatives). It also operates Coopbank Alhuda for Sharia-compliant banking, CoopApp and CoopApp Alhuda for mobile banking, and diaspora and cooperative banking rails, alongside 750+ Cash Recycler Machines, a 42,000-agent and 369,000-merchant distribution network, and a physical branch network.

The underlying technology stack combines KIFIYA's Qena AI-driven digital lending platform for credit scoring and underwriting, TECH5 biometric identity verification integrated with the National ID Program's Fayda Digital ID, blockchain-based remittance settlement via TerraPay and Quantoz Payments, and Mastercard's Community Pass infrastructure for agricultural data capture. Coopbank monetizes primarily through interest income on lending (rates ranging from 17.75% on export term loans to 22% on personal/mortgage and vehicle loans), transaction and service fees on Coopay-Ebirr and card services, FX service charges on letters of credit (around 4% combined), and remittance service revenue; remittance transfers are positioned as free to end users as a customer acquisition lever. Go-to-market is hybrid: product-led growth through Coopay-Ebirr and Michu for mass-market financial inclusion, combined with community-led growth via UNHCR, UNDP, and farmer cooperative partnerships.

Customer segmentation is broad and inclusion-oriented, with MSMEs, retail consumers, women entrepreneurs, and smallholder farmers as primary segments, and diaspora, refugees/returnees, Islamic banking customers, and cooperatives as secondary segments. Coopbank is led by CEO Deribie Asfaw and is governed as a cooperative-style Share Company with multiple institutional shareholders, reporting no parent company or public listing.

Name

Cooperative Bank of Oromia

Legal name

Cooperative Bank of Oromia (S.C)

Website

https://coopbankoromia.com.et

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Cooperative Bank of Oromia is an Ethiopian digital-first private bank serving 15.7 million customers through mobile payments (Coopay-Ebirr), AI-powered collateral-free digital lending (Michu), and agricultural fintech (Farmpass), focused on financial inclusion for MSMEs, women, farmers, diaspora, and refugees.

Ownership category

akta.pro rank

Product category

Retail and Commercial Banking

NAICS

Commercial Banking (52211), Commercial Banking (522110), Credit Card Issuing (522210), Nondepository Credit Intermediation (5222), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

National Commercial Banks (6021), Finance Services (6199)

akta.pro primary industry

Cooperative Banks (Member-Owned Commercial/Retail) (FSABAEAF)

akta.pro secondary industries

Agricultural & Rural Cooperatives (Farm Credit/Co-op Banks) (FSABAEAG), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL), BaaS Platforms & Sponsor Bank Enablement (FSAGALAA), A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF)

Keywords

• Retail banking services
• Digital lending platform
• Mobile payment services
• Agricultural finance
• Islamic banking

Headquarters

HQ city

Addis Ababa

HQ country

Ethiopia

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Interest Income from Lending: Core revenue from interest charged on various loan products including term loans, overdraft facilities, agricultural loans, trade finance, and diaspora loans. Rates vary by sector and duration.
2. Digital Banking and Transaction Fees: Fees from digital banking services including Coopay E-birr transactions, card services (VISA cards), and digital lending platform fees.
3. International Banking and Remittance Services: Revenue from international trade services (import/export letters of credit, guarantees), and remittance services through partnerships with Western Union, MoneyGram, Thunes, Ria, and Dahabshiil.
4. Service Charges and Tariffs: Various service charges including foreign exchange service fees, LC/CAD issuing commissions, and service charges on imports and cash sales.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels5 records

Core offering

Cooperative Bank of Oromia is a digital-first commercial bank offering deposit products (demand, savings, fixed time), collateral-free digital lending through the Michu platform, mobile payments via Coopay-Ebirr, trade finance and international banking services, Sharia-compliant banking under Coopbank Alhuda, agricultural finance via Farmpass, and diaspora banking. The bank serves over 15.7 million customers across Ethiopia through mobile apps, an agent/merchant network, branches, and self-service CRM machines.

Product overview

Cooperative Bank of Oromia operates as a digital-first bank offering a platform-plus-modules architecture centered on its digital lending product Michu and mobile payment platform Coopay-Ebirr. The core product portfolio includes Michu (with three variants: Wabi, Kiyya, Guyya) for collateral-free digital lending, Coopay-Ebirr for mobile payments, CoopApp and CoopApp Alhuda for mobile banking, Farmpass for agricultural fintech, Fayda Wallet for digital identity banking, and Coopbank Alhuda for Sharia-compliant services. Supporting modules include Visa/Mastercard card services, CRM machines for cash recycling, Internet Banking, Diaspora Banking, Coop-Chapagram (Telegram chatbot payments), and Coopbank SACCO-Link for cooperative banking integration. The bank processes over ETB 6 trillion through its digital ecosystem serving 15.7 million customers, with 80% of transactions being digital.

Differentiator

Problem solved

Functional benefit

Brands

• Coopbank Alhuda: Sharia-compliant banking division offering Islamic financial products and services including Mudarabah, Murabahah, and Musharakah financing.
• Michu
• COOPay-Ebirr
• CoopApp
• CoopApp Alhuda
• Farmpass
• Coopbank SACCO-Link
• Diaspora Banking

Products and services

• Michu Digital Lending Platform Ethiopia's first collateral-free digital lending platform offering AI-powered loan processing for MSMEs with three variants: Michu Wabi (up to ETB 300,000 for formal businesses), Michu Kiyya (up to ETB 75,000 for women entrepreneurs), and Michu Guyya (up to ETB 15,000 for informal businesses). Has disbursed over ETB 50 billion across 2.8 million accounts.
• Coopay-Ebirr Mobile Payment Platform Mobile payment platform enabling utility payments, shopping, entertainment, instant money transfers, and merchant transactions. Ranks as Ethiopia's third-largest digital financial service platform and number one among private banks.
• CoopApp Mobile Banking Mobile banking application providing seamless, secure, and round-the-clock banking services including deposits, withdrawals, transfers, and account management for retail and SME customers.
• CoopApp Alhuda (Islamic Mobile Banking) Sharia-compliant mobile banking application for Coopbank Alhuda customers, providing interest-free Islamic banking services on mobile.
• Farmpass Agricultural Fintech Platform Agricultural fintech platform creating an integrated ecosystem connecting farmers, cooperatives, buyers, input providers, and financial institutions. Onboarded nearly 600,000 farmers and over 1,070 cooperatives, addressing the 70% of smallholder farmers without formal credit access.
• Fayda Wallet (Digital Identity Banking) Digital identity wallet enabling account opening through biometric eKYC linked to Ethiopia's Fayda Digital ID, with instant virtual Visa card issuance upon verification.
• Coopbank Alhuda (Islamic Banking Division) Sharia-compliant Islamic banking division offering interest-free banking products including Mudarabah, Murabahah, and Musharakah financing, plus dedicated branches and digital platforms.
• Coopbank SACCO-Link Digital banking solution linking Coopbank with Savings and Credit Cooperative Organizations (SACCOs), enabling cooperative-to-bank integration and member services.
• Coop-Chapagram (Telegram Payment Bot) Digital payment solution integrated with the Telegram chatbot platform, enabling digital financial transactions via the Telegram messaging app.
• Coop VISA Cards VISA card products including VISA Classic Debit Cards (conventional and interest-free variants for Coopbank Alhuda), VISA Classic Prepaid Cards for international travelers, and VISA Platinum Prepaid Cards for premium customers.
• Coopbank Internet Banking Online banking platform accessible via web browser for account management, balance inquiries, transfers, and digital transactions without requiring the mobile app.
• Diaspora Banking Banking services for Ethiopian citizens or origin living abroad, including diaspora current/savings/ECOLFL accounts, fixed-time accounts, investment financing, working capital loans, consumer loans (mortgage, automobile, personal), and 100% free remittance integrations through Western Union, MoneyGram, TransFast, Dahabshiil, Thunes, Ria, and blockchain-based euro corridors.
• Deposit Products (Demand, Savings, Fixed Time) Standard deposit account products including Ordinary Demand Deposit Accounts, Ordinary Savings Accounts, and Fixed Time Deposit Accounts, available to retail and SME customers.
• Loan and Advances (Term Loans, Overdraft, Trade Finance) Secured lending facilities including Collateralized Commodity Financing (CCF), Overdraft Facility, Merchandise Loan Facility, Pre-shipment Export Credit Facility, Letter of Guarantee Facility, Term Loans, Agricultural Term Loans, Motor Vehicle Loans, Revolving Export Credit Facility, Equipment/Machinery Lease Financing, Import Letter of Credit Settlement Loans, and Partial Financing for Acquired/Foreclosed Collateral.
• International Trade Services International trade and banking services including Import Letters of Credit, Export services, Money Transfers (remittances via 6+ global partners and blockchain-based euro corridor), and Foreign Guarantees.
• Cooperative Banking and Financing Cooperative banking suite including Cooperative Savings products, Cooperative Financing (Working Capital Loan, Agriculture Mechanization, Agriculture Processing, Export Financing Facilities), and Cooperative Capacity Building and Advisory Services.
• Cash Recycler Machine (CRM) Banking Service Multi-functional Cash Recycler Machine infrastructure offering 24/7 cash deposit and withdrawal services with cash recycling technology that improves cash availability and reduces downtime. Over 750 CRM machines deployed nationwide.

Quantifiable outcome

• ETB 6 trillion+ processed through mobile banking platform
• +5 more outcomes

Named customers5 records

Segments8 records

Ideal customer profiles7 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability6 records

Feature5 records

Partnerships

16 partnerships are on record, tiered core.

• UNHCR EthiopiacoreStrategic or Co-development Partner · 19 June 2026Landmark partnership to launch the Livelihood Inclusion via Fintech Technology (LIFT) Program, expanding access to formal banking services for refugees, returnees, and host communities across Ethiopia. Coopbank CEO Mr. Deribie Asfaw emphasized the transformative potential of inclusive finance.
• Zagol System Trading PLCcoreTechnology or Integration · 13 June 2026Strategic MoU to expand digital payment services through Coopay E-birr ecosystem. Enables customers to pay for international airline tickets (12+ airlines), hotel bookings, and transportation services from a single platform.
• TerraPaycoreTechnology or Integration · 6 May 2026Launch of blockchain-based settlement system for inward remittances to Ethiopia. Supports euro-denominated remittance flows from Europe through TerraPay's global cross-border payments network.
• Quantoz PaymentscoreTechnology or Integration · 6 May 2026Provides regulated digital euro settlement infrastructure for blockchain-based remittance corridor, enabling transparent and compliant settlement while reducing pre-funding costs.
• UNDP (United Nations Development Programme)coreStrategic or Co-development Partner · 17 April 2026MoU to strengthen climate risk management in Ethiopia's agricultural sector by embedding climate insurance into Coopbank's lending operations. UNDP provides technical assistance including dedicated Insurance Desk, climate risk analytics, and capacity building.
• MastercardcoreStrategic or Co-development Partner · 9 April 2026Coopbank recognized as Mastercard's Top Farm Pass Partner in Africa for 2025. Partnership involves rollout of Farm Pass platform across seven regions in Ethiopia, digitizing agricultural value chains and enabling farmer access to finance.
• National ID Program (NIDP)coreStrategic or Co-development Partner · 21 May 2025Collaboration for launch of Ethiopia's first Fayda Wallet. Integration with National ID Program enables biometric eKYC account opening linked to Fayda Digital ID.
• TECH5coreTechnology or Integration · 21 May 2025Provides advanced biometric and identity-matching technology for Fayda Wallet including contactless fingerprint capture, liveness detection, and robust data privacy mechanisms.
• VisacoreGTM or Marketing Partner · 21 May 2025Partnership for Visa card services launch including VISA Classic Debit Cards, VISA Classic Prepaid Cards, and VISA Platinum Prepaid Cards. Joint marketing campaign for FIFA World Cup 2026.
• KIFIYA Financial TechnologycoreTechnology or Integration · 12 January 2022Partnership for launch of Ethiopia's first uncollateralized digital lending product, Michu. KIFIYA provides AI-driven Qena digital lending platform; Coopbank provides distribution and financial capacity.
• Western UnioncoreChannel Partner/ Reseller/ DistributorInternational remittance partner enabling inward money transfers to Ethiopia through Western Union's global network.
• MoneyGramcoreChannel Partner/ Reseller/ DistributorInternational remittance partner for diaspora money transfers to Ethiopia through MoneyGram's global network.
• ThunescoreChannel Partner/ Reseller/ DistributorDigital remittance partner for international money transfers to Ethiopia via blockchain-based settlement.
• DahabshiilcoreChannel Partner/ Reseller/ DistributorMajor remittance service provider for Ethiopia, particularly serving diaspora communities sending money home.
• Ria Money TransfercoreChannel Partner/ Reseller/ DistributorInternational money transfer service partner for diaspora remittances to Ethiopia.
• TransFastcoreChannel Partner/ Reseller/ DistributorInternational money transfer network partner for cross-border remittance services to Ethiopia.

Scale indicators17 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Commercial Bank of Ethiopia: The dominant state-owned commercial bank in Ethiopia with the largest branch network and deposit base. Directly competes with Coopbank for retail, MSME, and corporate banking customers across Ethiopia.
• Safaricom (M-Pesa Ethiopia): Mobile money operator in Ethiopia (through M-Pesa Ethiopia) competing with Coopay E-birr for digital payment market share. Represents the mobile-money-first model as an alternative to bank-led digital finance.
• Ecobank Transnational Incorporated: Pan-African banking group present in 35 African countries with similar focus on financial inclusion, agent banking, and digital platforms. Comparable for its African emerging market banking model and digital transformation strategy.

Direct peers

• Awash International Bank: One of Ethiopia's leading private commercial banks offering similar retail, corporate, and digital banking services. Direct competitor for Coopbank's MSME and consumer banking segments in Ethiopia.
• Dashen Bank: Major Ethiopian private bank with significant branch network and digital banking ambitions. Competes directly with Coopbank in retail deposits, MSME lending, and corporate banking.
• Bank of Abyssinia: Established Ethiopian private bank offering commercial and digital banking services. Competes with Coopbank for retail and MSME customers, particularly in Addis Ababa and other major Ethiopian cities.
• Zemen Bank: Ethiopian private commercial bank with growing digital presence. Direct peer for retail banking, MSME lending, and trade finance services in Ethiopia.

Regional players

• Equity Bank Kenya: East African bank with strong financial inclusion focus and digital banking platform (Equitel, Eazzy). Comparable business model targeting MSMEs, women, and underserved segments, though operating in different geographies.
• KCB Bank Kenya: Major East African bank with extensive agent network and mobile banking platform. Comparable digital banking and financial inclusion strategy targeting mass-market customers across the region.

Others

• Kifiya Financial Technology: Ethiopian fintech providing the AI-driven Qena digital lending platform that powers Coopbank's Michu product. Key technology partner rather than direct competitor, but illustrative of the fintech ecosystem shaping Ethiopian digital finance.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/coopbankoromia
• Facebookfacebook.com/cooperativebankoforomia

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cooperative Bank of Oromia