Enat Bank S.C., Ethiopia’s leading women-focused commercial bank, has initiated the structuring of 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 distinguishes itself through a focus on gender-inclusive finance. Women hold more than 60 percent of the bank’s ownership, occupy over half of board seats, and are represented in senior management, making it a rare example of a gender-responsive financial institution in Africa.

The bond, once approved and listed, 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 the bond 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 percent to 10 percent by 2025, and supports international frameworks including the Sustainable Development Goals on gender equality and decent work.

i-Capital Institute PLC will lead the structuring, framework development, and stakeholder engagement for the bond, 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.