The Ethiopian Deposit Insurance Fund (EDIF) hosted a half-day workshop on July 10, 2025, at Sky light Hotel for key stakeholders in Addis Ababa. Attendees were drawn from commercial banks, and microfinance institutions and other strategic partners, including the Ministry of Finance, and the National Bank of Ethiopia.
The main objective of the workshop was to enable participants to understand international deposit insurance principles and best practices, the legal framework of the EDIF, the operational and financial achievements of the Fund, challenges and the way forward of the Fund.
During the workshop Mr. Solomon Desta, Board Chairman of the Ethiopian Deposit Insurance Fund and Vice Governor of the National Bank of Ethiopia, highlighted and emphasized the vital role of deposit insurance in safeguarding depositors’ funds, including taxpayers’ money, and contributing to financial system stability.
He also outlined its key strategic priorities, which include automating the deposit payout process, strengthening the Fund’s financial position, and enhancing public awareness of deposit insurance.
Dr. Desalegn Ambaw, Chief Executive Officer of the Ethiopian Deposit Insurance Fund (EDIF), outlined the Fund’s key achievements to date, noting that a total premium of Birr 13.85 billion had been collected, and the Fund’s investment portfolio had reached Birr 15.14 billion.
Dr. Julia Oyet, Chairperson of the IADI Africa Regional Committee and CEO of the Deposit Protection Fund of Uganda, delivered a comprehensive presentation on international deposit insurance principles, aligning her insights with the standards set by the International Association of Deposit Insurers (IADI), and best practices of Africa. Her presentation placed particular emphasis on the experiences and applications relevant to African countries.
Following this, Mr. Merga Wakweya, Director of the Operations Directorate at the Ethiopian Deposit Insurance Fund (EDIF), provided an in-depth briefing to participants on EDIF legal framework, strategic plan, key operational and financial achievements, existing challenges, and the Fund’s forward-looking strategic direction.
During a question-and-answer session at the workshop, participants actively participated and raised their concerns on areas that EDIF has to improve in its implementation of deposit insurance system. Accordingly, Dr. Julia, and management of EDIF responded to comments, question and suggestion of the participants. The fund’s management also reaffirmed the importance of strengthening the Ethiopian Deposit Insurance Fund to ensure its readiness and effectiveness in fulfilling its mandate in the event of a financial institution’s failure.
The workshop was concluded with closing remarks from Mr. Frezer Ayalew of the EDIF Board and National Bank of Ethiopia. He identified the fund’s three core focus areas moving forward: building institutional capacity, upgrading to automated systems, and directly addressing the valuable feedback received from workshop attendees.
