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Economy: Women’s bank for Ethiopia

Enat, meaning “mother” in Amharic, is the name of the first bank specifically targeting women in Ethiopia.

The operation is the brainchild of Meaza Ashenafi, the founder and former director of the Ethiopian Women Lawyers Association, who has championed women’s rights in Ethiopia for many years. It intends to empower women economically by providing easier access to credit and helping them to get to grips with the banking system, which is traditionally dominated by men. Enat will be run and controlled by women, although it will also be open to men.

The initiative has already generated considerable interest thanks to radio advertisements, and public shares are due to be floated shortly, the English-language business weekly newspaper Capital Ethiopia reports.

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