Deposit Insurance Fund Collects Over 13 Billion Birr in Premiums

Addis Ababa, July 10, 2025 (ENA) – The Ethiopian Deposit Insurance Fund (EDIF) announced that it has collected a total of 13.84 billion Birr initial and annual premiums from member financial institutions over the past two years.

The announcement was made at a workshop on raising awareness about the Deposit Insurance Fund.

Speaking on the occasion, National Bank Deputy Governor and Ethiopian Deposit Insurance Fund Chairman, Solomon Desta, emphasized the crucial role the Fund plays in ensuring a healthy, resilient, and stable financial system for the country.

He underscored that by providing adequate protection for depositors, the Fund significantly contributes to the stability of the financial system and the broader financial sector.

Solomon further stated that EDIF has diligently undertaken numerous initiatives to fulfill its mandate comprehensively and effectively.

He also stressed the importance of strengthening such platforms to enhance awareness and knowledge among depositors and stakeholders regarding the Fund's operations.

Ethiopian Deposit Insurance Fund CEO, Dessalegn Ambaw, said the Fund has registered impressive achievements in a short period.

The CEO pointed out the significant progress made in organizing the Fund and securing the necessary human resources and other inputs for its operations.

As a result of these, EDIF has successfully collected 13.84 billion Birr in initial and annual premiums from member financial institutions over the past two years.

EDIF provides a safety net for individuals saving or depositing money in commercial banks and microfinance institutions.

In the event of a crisis affecting these institutions, the Fund ensures a system through which depositors receive compensation, safeguarding their hard-earned savings.