Addis Ababa – July 25, 2025 — Awash Investment Bank, a newly established subsidiary of Awash Bank, is set to begin operations after securing a business license and initial capital of 200 million birr.

The bank, which aims to provide specialized investment banking services, announced that Dr. Andualem Hailu has been appointed as its inaugural Chief Executive Officer. Dr. Andualem brings with him deep experience in the financial sector, positioning the institution for a strong start in Ethiopia’s rapidly evolving capital markets landscape.

According to a statement from Awash Bank, the new investment bank will focus on supporting long-term financing, equity investment, and advisory services to help scale businesses across strategic sectors such as infrastructure, manufacturing, and technology.

While launching with 200 million birr in capital, the bank has set its sights on doubling that amount to 400 million birr in the near future, signaling its ambition to become a major player in Ethiopia’s investment ecosystem.

The move comes as Ethiopia’s financial sector continues to open up to new forms of banking and investment services, creating opportunities for institutions like Awash Investment Bank to fill key gaps in capital mobilization and financial intermediation.

Awash Bank, Ethiopia’s leading private commercial bank, has described the new venture as part of its broader strategy to diversify services and deepen its impact in the national economy.