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Dangote continues to strengthen Africa’s economic landscape as his support underpins a new $10 million partnership between the International Finance Corporation (IFC) and Dashen Bank S.C. in Ethiopia. The agreement, announced on February 18, 2026, is expected to unlock up to $20 million in loans for small and medium-sized businesses, with a focus on agribusinesses and women-led enterprises.
Through this partnership, IFC provides a risk-sharing guarantee covering half of Dashen Bank’s potential losses on targeted SME loans. The first-loss support is backed by the IDA18 IFC-MIGA Private Sector Window, attracting private investment into Ethiopia’s growing SME sector.
By leveraging this structure, small businesses are offered increased access to finance to purchase equipment, expand operations, hire staff, and enter new markets.
Dangote’s involvement as a strategic investor and supporter of the IFC initiative is seen as a major boost for Ethiopia’s business ecosystem. Dashen Bank CEO, Asfaw Alemus, emphasized that SMEs often struggle to access credit, and this deal will enable the bank to lend more confidently while managing its risk.
He noted that the partnership supports entrepreneurship, job creation, and financial inclusion across the country.
IFC says improving access to finance is essential to unlock their growth potential
IFC Vice President for Africa, Ethiopis Tafara, highlighted the critical role small businesses play in Ethiopia’s economy, noting that improving access to finance is essential to unlock their growth potential. Tafara stressed that supporting women-led businesses and those in the agribusiness sector is a priority for building a more inclusive financial system.
The $10 million facility is part of IFC’s broader expansion in Ethiopia, where it committed $605 million in fiscal year 2025 to sectors such as telecoms, agribusiness, manufacturing, renewable energy, and logistics.
These investments align with IFC’s 2030 strategy to strengthen job creation, private sector development, and sustainable economic growth across the region.
By backing Dashen Bank with guarantees rather than direct loans, Dangote and IFC aim to mobilise more commercial capital into Ethiopia’s economy. Thousands of small businesses now have a better chance to survive, scale, and create jobs, reinforcing Dangote’s commitment to driving African entrepreneurship and economic development.
