WHAT YOU NEED TO KNOW

  • Total number Micro-finance institutions (MFIs) were 39.
  • Saving deposit mobilized close to Birr 52.4 billion in, 17.2% annual growth.
  • Outstanding credit went up by 6.7% to Birr 69.3 billion.
  • Total asset:13.8% annual increase to Birr 105 billion
  • Total capital showing a 43.4% growth to Birr 27.9 billion
  • The top five largest MFIs namely, Amhara, Dedebit, Oromia, Omo & Addis Credit and Savings Institutions accounted for 84.8 percent of the total capital, 88.8% of total deposit, 82.7% of total credit and 84.3% of total assets of MFIs.

IN CASE YOU MISSED IT

  • On September 2020, Amhara Credit & saving Institute (ACSI) has announced transformation of its System into a bank with a principal capital amounting close to 8.5 billion Birr.
  • Oromia Credit & Saving Institute S.C (OCSSCO) with a paid-up capital of 7 billion birr has relicensed to provide banking service as Sinqe bank in 2021.

(National Bank of Ethiopia)

DISCLAIMER

The opinions expresses here in the post "Ethiopia: An Overview of Microfinance Institutions in 2021" are those of the individua's contributor(s) and do not necessarily reflect the views of Business Info Ethiopia , BIE Intelligence PLC, its publisher, editor, or any of its other contributors.

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