Establishment of Enat Bank reveals the power of women united towards a common cause
The story of Enat Bank is one of triumph over adversity. Enat Bank was initiated by a diverse group of 11 powerful Ethiopian women, and this tight team of founders has shepherded Enat from an idea to a reality. Enat is a unique success story that should make all Ethiopians proud.
The founders of Enat had a vision to create a new bank that was open to everyone, with a special focus on women. Such a focus was necessary to help women access credit, among other products. While the team found many supporters, raising the funds constituted a major hurdle. But the more difficulties the team faced, the more unified and determined they became to make Enat a reality. Each founder contributed their own time and resources.
The establishment of Enat marks a unique point in Ethiopian and African banking history. Women own 64 percent of the bank, and compose many major leadership positions from the senior bank management to the Board of Directors. The founders succeeded in their vision through commitment and hard work, and are prepared to continue to nurture the bank as it establishes itself. The founders believe after Enat succeeds in Ethiopia, it can be expanded across Africa.
This tight-knit group of co-founders remain Enat’s primary Ambassadors, helping bring Enat’s vision to the world. The vision of the founding promotes also includes ensuring Enat Bank hires and mentors bright young women to continually research the best ways to ensure the bank’s products reach women on progressive but incremental basis.