ኣንዳንድ እውኔታ ስለ ሲዳማ ማክሮ ፋይናንስ ፤ ኣሁንስ ከምን ደረጃ ላይ ይገኛል?
SIDAMA
Micro-Finance Institution
Micro-Finance Institution
( a ) General Information
Year of Establishment
July 1998
Legal Status
SIDAMA Micro Finance Institution S.C. was legally registered by the National Bank of Ethiopia, according to Proclamation No.40/1996.
Current Operational Area (s)
SIDAMA is operating in the Southern Nations and Nationalities Peoples Regional State (SNNPRS).
Future Expansion Plan
SIDAMA has no intention of expanding to other regions. It rather wants to increase the number of Woredas to be served in the same region from 15 to 20 within the next three to five years.
Total Number of Woredas Covered so far 10 Woredas
Total Number of Branches Opened so far Nine Branches with five sub-branches.
Total Number of Clients served so far 12,318 with 3,218 urban and 9,100 rural clients.
Gender Sensitivity Male clients = 52%, Female Clients = 48%
( b ) Loan Services/Products
iGeneral Loan;
iMicro Business Loan;
iAgricultural Loan;
iService and Handicrafts Loan.
Loan Size Term Per Loan Cycle, Interest Rate and other fees
Type of Loan
|
Loan Size per Loan Cycle (Birr)
|
Max. Loan
Size
|
Interest Rate
(%)
|
Loan Term
(Months)
|
Other fees
| ||||
1st
|
2nd
|
3rd
|
4th
|
5th
| |||||
General Loan
|
1,000
|
1,250
|
1,500
|
2,000
|
2,400
|
5,000
|
15%
|
12
|
Onetime payment of 10 Birr
|
Micro Business Loan
|
1,200
|
1,600
|
2,000
|
2,500
|
3,000
|
5,000
|
15%
|
12
| |
Agricultural Loan
|
1,000
|
1,300
|
1,500
|
1,800
|
2,000
|
5,000
|
15%
|
12
| |
Service and Handicrafts Loan
|
1,000
|
1,200
|
1,400
|
1,700
|
2,000
|
5,000
|
15%
|
12
| |
Loan Eligibility Criteria
- Client's experience in performing his/her business activity that he/she asked loan for;
- Availability of market for the product/service of the client;
- Willingness to form groups (of five members) and center (of four to five groups) and access loans on a group and center guarantee basis;
Type of Collateral Needed Group and Center Guarantee are required.
Some of the economic activities financed so far
- Trade (selling of coffee, chat, grain and other staple crops);
- Fishing business;
- Cattle fattening and selling;
- Selling of diary products such as butter and milk;
- Small restaurants, tearooms;
- Preparation and selling of local drinks;
- Selling of 'enset' products.
Grace Period and Time needed to process and get loans
Type of loan
|
Grace period (Days)
|
Time needed to process and get loans (Days)
|
General Loan
|
-
|
15 for new clients
|
Micro Business Loan
|
15
|
15
|
Agricultural Loan
|
30
|
15
|
Service and Handicraft Loan
|
15
|
2 to 5 days
|
Business Plan Presentation No special business plan is required from clients except a brief statement and justification on the purpose of the requested.
Target Clients for Loans
The primary clients of SIDAMA are:
· Rural poor peasants;
· Off-activity operators;
· Micro and Small Enterprise Operators.
Special emphasis is given to women clients.
Target Clients for Savings Urban and Rural poor households.
Willingness to lend to new business start-ups such as high school dropouts, college graduates and similar groups
New business start-ups can access financial services of the Institution.
( c ) Savings Products
No.
|
Type of Saving
|
Annual Deposit Rate
|
Remark
|
1.
|
Clients' Compulsory Saving
|
6%
|
( d ) Other non-financial Services No other services apart from financial services.
Service Out-let Through branch/sub-branch offices.
New products to be introduced during the coming 3-5 years
Type of Product
| ||
Loan
|
Savings
|
Other Related Services
|
Individual loan to MSEs
|
Time deposit
|
Money transfer
|
Frequency of revising loan policies As per needed.
Address
P.O.Box:565, Awassa, Ethiopia
Telephone:+251-6-200850/204704
|
E-mail:sdc10@telecom.net.et
|
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