Tsehay Bank S.c, one of 20 banks which are under formation, held it’s first general assembly in Sheraton Addis Hotel on Feb 18, 2021. The bank managed to collect 734 million birr paid up capital and 2.9 billion birr subscribed capital.
Unlike other bank which set a minimum share amount of 50,000 birr or less, Tsehay bank set a minimum share amount at 100,000 birr which has allowed it to be established with only 373 shareholders. This is the smallest number of shareholders for any bank in Ethiopia while in comparison, Amhara Bank, another bank under formation has more than 185,000+ shareholders all over Ethiopia.
Tsehay Bank is planning to open 20 branches in Addis Ababa and other regional cities. 12 board members have been elected to run the bank.
Niway Zerge (Dr), Ato Taye Dibekulu, Ato Balew Mersha, Ato Tadesse Ayenew, Ato Limeneh Emiru, Ato Shimeles Tequamebirhan, Zenzelma PLC, Ato Gedefaw Baye, Elilta Plc, Global Plc, Tsehay Insurance and Ato Bewketu Alamerew.