
ADDIS ABABA –The Oromia Credit and Saving Share Company (OCSSCo) has upgraded to Sinqe Bank with over seven-billion-Birr capital, an enormous amount to the market entrant firm. In his keynote speech on the inauguration ceremony here yesterday, Bank President Zewde Tefera said that the establishment of Sinqe Bank with high capital makes it different from other firms. Equipped with over 15 billion Birr total capital, the bank is expected to competitive in the country’s thriving financial industry.
It was stated that the new bank will use the existing 400 OCSSCO branches. The president stated that in its 23-year existence, the organization has provided credit and saving service to a significant number of people in Oromia State. Currently, it is serving over one million clients including farmers, women, unemployed youths, urban petty traders, Medium and Small-Scale Enterprises operators, entrepreneur women and others, he said The inauguration ceremony was graced by Oromia State President Shimelis Abdissa, former Ethiopian President Mulatu Teshome, bank officials, Abbaa Gadas and Hadha Sinke (community leaders).
BY TSEGAYE TILAHUN
The Ethiopian Herald May 25/2021