Melkamu Lemma

Founder of Ethiopia's first women-owned bank empowering female entrepreneurs

Melkamu Lemma (b.1955) revolutionized Ethiopian finance by establishing Women's Bank in 1996 - Africa's first bank wholly owned and managed by women. Growing up in a patriarchal society where women controlled only 12% of business assets, Lemma recognized the systemic barriers preventing female entrepreneurs from accessing capital. Her bank provided tailored financial services, mentorship programs, and microloans that enabled over 500,000 women to start businesses by 2020.

Lemma's innovative approach included creating a 'Women's Business Incubator' and negotiating with the Ethiopian government to secure preferential interest rates for female borrowers. Her work was featured in the World Bank's Gender Equality in Finance report (2005) and the documentary series African Innovators (2012). She has spoken at the UN Commission on the Status of Women and co-authored Breaking the Glass Ceiling in Developing Economies with economist Esther Duflo.

Lemma's impact extends beyond Ethiopia - her model inspired similar institutions in Kenya, Nigeria, and Bangladesh. The bank's success contributed to Ethiopia's female entrepreneurship rate increasing from 8% to 24% between 2000-2020. Her leadership continues to shape global discussions on gender-inclusive finance through organizations like the World Bank Gender Innovation Lab.