Strengthening Rural Finance: Fana Youth Cooperative Unveils New Branch to Boost Youth Entrepreneurship in Hagereselam

Fana Youth Saving and Credit Cooperative has officially launched its newest branch in Hagereselam, marking a significant leap toward expanding rural financial inclusion and unlocking entrepreneurial opportunities for young people. The inauguration was held in partnership with the Entrepreneurship Development Institute (EDI) during Global Entrepreneurship Week (GEW) 2025, with both institutions championing the global theme “Together WE Build.” The event convened local administrators, youth entrepreneurs, cooperative leaders, community elders, and development stakeholders. The event spotlighted the critical role of rural finance systems in strengthening youth enterprise, promoting a savings culture, and bridging the credit gap that often limits business growth in non-urban communities. In his address, Mr. Alemayehu, Operational Manager of Fana, underscored that youth–centered cooperatives are uniquely positioned to build economic resilience by offering affordable loans, structured savings schemes, and enterprise advisory services tailored to emerging rural businesses. He emphasized that rural young entrepreneurs are key economic drivers and deserve financial ecosystems that enable them to innovate, grow, and compete. The program further featured strategic discussions on cooperative–government partnerships, community mobilization, and scalable models for enterprise support. Panel inputs, including contributions from EDI, stressed the importance of integrating financial literacy, business mentorship, and market linkage programs into rural credit services to enhance survival and expansion rates of youth–led startups. Participants collectively acknowledged that sustainable rural transformation requires institutions that blend finance with capacity building, a core focus of the Fana-EDI collaboration. With its doors officially open, the Hagereselam branch is expected to serve as more than a credit point—a hub for rural enterprise incubation, job creation, and community–driven economic growth. It aims to strengthen the local entrepreneurship ecosystem by providing fair access to capital, promoting a savings-first culture, and supporting youth innovators working in agriculture, trade, services, and rural value chains. Fana Youth Saving and Credit Cooperative and the Entrepreneurship Development Institute reaffirmed their commitment to deepen rural financial outreach, calling for continued collaboration among government bodies, development partners, and community networks. This partnership is dedicated to ensuring that young entrepreneurs in Hagereselam have the tools, knowledge, and financing to scale their ambitions.