It was established in 2014/15 Academic year with five departments in Degree program (Accounting and Finance, Management, Economics, Public Administration and Development management and Cooperative Business Management, both regular and extension programs. The Faculty added additional two a new under graduate training program in logistics and supply chain Management and Marketing management in the academic year 2015/2016 and 2016/2017 respectively.
Faculty of Business and Economics currently has seven department. There are more than 94 academic staff and 2 administrative staff working in the faculty. The faculty enrolls currently close to 1451 students in regular program and in continuing education programs.