Awach Savings and Credit Cooperative Limited announced that it has provided a 2.8-billion-birr loan in the 2013 Ethiopian budget year, creating more than 30,000 jobs. Awach managed to secure a net profit of Birr 103 million.
According to the Cooperative Proclamation, 30% will be reserved and 5% will be used for social services, 30.7% dividend per share will be given for those with one or more years of membership.
Awach SACCO ss a saving and credit cooperative established on 13/07/1999 E.C. in Arada Sub-city by Mr. Zerihun Sheleme, founder and general manager with 41 initial members. Awach is the first SACCO in Ethiopia to be a member of the International Cooperative Alliance (ICA) and an associate member of the African Cooperative Confederation of Saving and Credit Associations (ACCOSCA).
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