Public-Private Partnerships : Expanding Financial Access for youth

The KULEHE Project launching event clearly highlighted the role of public-private partnerships in advancing financial inclusion. Among the key speakers, Gaddissa Shawel, Mekanisa Branch Manager of Cooperative Bank of Oromia (COOP), shared valuable insights. He explained how COOP is actively breaking financial barriers and expanding access to banking services.

Non-Collateral Loans: Expanding Opportunities

One of the biggest challenges for youth and women entrepreneurs is undoubtedly access to finance, often due to the lack of collateral. To tackle this issue effectively, COOP has introduced non-collateral loans, thereby making it easier for aspiring business owners to secure funding. As a result, they can create new opportunities for economic growth and financial stability.

Empowering Women with “Kiya” Savings

Recognizing the financial challenges women face, COOP launched “Kiya”—a dedicated women’s savings account. This initiative encourages women to save, invest, and build financial independence, fostering long-term economic empowerment.

Digital Banking for Financial Inclusion

COOP has further developed a user-friendly digital banking application, thereby ensuring financial services are easily accessible. Through this innovation, customers, especially youth and women, can conveniently manage savings, apply for loans, and conduct transactions. Moreover, they can do so efficiently without the need to visit a physical branch.

Moving Forward: Strengthening Public-Private Partnerships

By proactively addressing financial barriers through non-collateral loans, women-focused savings, and digital banking, Cooperative Bank of Oromia is actively supporting youth and women’s economic empowerment. In addition, public-private partnerships like these are crucial for scaling financial solutions. Ultimately, they help ensure economic inclusion for all.

The KULEHE Project’s successful launch is just the beginning. As the project continues to unfold, the involvement of leaders like Gaddissa Shawel and institutions like the Cooperative Bank of Oromia will be instrumental in driving its long-term success. Together, the public and private sectors are proving that collaboration, when done right, can lead to lasting change for communities and economies alike.

To learn more about Cooperative Bank of Oromia, visit the COOP website.

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