Goh Betoch Bank
Bank of the Generation
Goh Betoch Bank S.C was founded by 11 visionary individuals, veteran bankers, investors, and academicians who have a strong devotion to their country and people. The reasons behind the inception of this, the first of its kind or pioneer private mortgage bank in Ethiopia include huge housing backlog, unaffordability of houses due to the rising cost of construction, persistent inflation, poor housing financing scheme in the country, among others. The Bank was set up by 6,657 shareholders with a sum of Birr 1,056 million subscribed and Birr 521.5 million paid-up capitals. Following three years of establishment process, the Bank completed all the regulatory requirements and secured its license from the National Bank of Ethiopia (NBE) on July 28, 2021
Goh Betoch Bank finalized the founding process and officially commenced its operation on October 25, 2021. The Bank has targeted lower, middle and high-income cross sections of the society who aspire to purchase a house. Besides, the bank would also strive to make houses affordable by crafting initiatives to scale up the stock of houses; so that low- and middle-income groups shall be served in the form of rent and purchase.