Ahadu Bank Acquires 15-Storey Property in Addis Ababa Auction

June 22, 2026
By Mintesinot Nigussie

Ahadu Bank has acquired a semi-finished 15-storey building in Addis Ababa’s Mexico area after emerging as the highest bidder in an auction conducted by Nib International Bank, according to a report by Capital Newspaper.

The property consists of two basement levels and 15 upper floors, Capital reported, citing sources familiar with the transaction. The auction was held on May 21, 2026, and Ahadu Bank’s bid has since been accepted.

The acquisition comes as Ahadu Bank continues to expand its operations in Ethiopia’s banking sector. The lender, which began operations in 2022, was established by more than 10,000 shareholders and entered the market with a focus on expanding access to financial services and strengthening digital banking offerings.

Ahadu Bank has been building its branch network and service capacity since entering the market, joining a group of newer private lenders seeking to increase their presence in Ethiopia’s financial industry.

The bank has also accelerated investment in digital services, recently launching two mobile banking applications: Ahadu Le Kulu for retail customers and Mahder for micro, small and medium-sized enterprises.

Source: FSX Business News