Enat Bank, Ethiopia’s leading women-focused commercial bank, has begun structuring the country’s first Gender Bond, appointing i-Capital Institute PLC as transaction advisor. The bond aims to channel private capital towards women-led businesses and social infrastructure projects.
Founded in 2008, Enat Bank is built around gender-inclusive finance. Women hold more than 60 per cent of its ownership and over half of its board seats, and are represented in senior management, making it a rare example of a gender-responsive financial institution in Africa.
Once approved and listed, the bond will provide long-term financing to women-owned small and medium enterprises, cooperatives, agribusinesses and gender-inclusive ventures, as well as projects in affordable housing, healthcare, childcare and education. Aster Solomon, chairperson of the bank’s board, said it would open new opportunities for women entrepreneurs, investors and communities.
The initiative aligns with Ethiopia’s National Financial Inclusion Strategy-II (2021-2025), which aims to narrow the gender gap in financial access from 19 per cent to 10 per cent by 2025, and supports the Sustainable Development Goals on gender equality and decent work.
i-Capital Institute PLC will lead the structuring, framework development and stakeholder engagement, establishing a model for future thematic instruments such as social, green and sustainability-linked bonds. Upon issuance, Ethiopia will join a small group of African nations to have launched a Gender Bond.
