The German Sparkassenstiftung for international cooperation (DSIK) is starting 2026 with a new project in Ethiopia. In partnership with Abay Bank S.C., a memorandum of understanding (MoU) has been signed to support the introduction of ESG (environmental, social and governance) principles in the country's financial sector.

The MoU was signed by Ato Yehuala Gessesse, CEO of Abay Bank, and Oliver Schuster, team leader and project manager for Africa at DSIK. It lays the foundation for cooperation that will translate ESG principles into concrete measures for banks and local communities. Training, consulting and support services are planned to improve access to financial services and promote rural regions.

During the signing, both sides emphasised that ESG is of great importance both socially and economically. The partnership aims to help banks strengthen their operations while supporting communities in securing their livelihoods against social and climate-related challenges.