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.
