Sidama Bank Review

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About Sidama Bank

Sidama Bank is one of the upcoming private Banks in Ethiopia, Sidama Bank announced its launch and start operation recently on July 3rd/2023 G.C, following its Banking license receive from the National Bank of Ethiopia(NBE) on July 1/2023 with 1 Billion paid capital and two thousand shareholders. The Bank was first established on the month of June 2022 requesting for license guarantee from the Central Bank

 

Sidama Bank is established and 70% of its shares are owned by the Sidama Regional government, and 30% by other social exemplary stakeholders, Sidama starts its journey with 30 brunches.

 

History of Sidama Bank

 

Sidama Bank formerly known as Sidama Micro Finance Institution made its transformation from a microfinance institution to a fully commercial Bank according to the National Bank proclamation allowing microfinance institutions to transact with commercial banks.

This makes the Bank one of the many microfinance institutions in Ethiopia which has made the transaction with fully-fledged commercial banks(eg. Oromial Bank, Amhara Bank, Siinquee Bank, Tseday Bank… )

 

Sidama Microfinance established in 1994 was known by Sidama ruler women’s Credit and saving scheme(RWCAS), the institution was founded with 200,000 ETB and then made its first transformation to a full microfinance institution after four years of operation(ON 1998) seating its headquarter at the capital city of the Sidama Region, Hawassa City. MFI received its Banking license in 2023 after 25 years of service provided.

 

Sidama Microfinance had a vision of making a contribution and changing the life of to poor and has provided society deliberately it.

 

 

Sidama Bank have a mission to create value for its shareholders by providing accessible and modern banking services to the urban and rural population of Ethiopia . and a Vision to be the leading inclusive financial service provider in Ethiopia.Sidama has experienced and scholastic members on it board the leading president of the Bank is Mr. Tadesse Hatiya

Contact Information

Sidama Bank phone number: +251-11470 4726

Sidama Bank email address: [email protected]

SWIFT: SDMAETAA, Addis Ababa, Ethiopia

Sidama Bank Head Office: Sera Leone Avenue, Lancha Mekor Plaza 3rd floor, Addis Ababa, Ethiopia