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Saturday, March 23, 2013


This week I have been to Bensa Daye Woreda in Sidama Zone and I took some pictures (Even though I am not a professional photographer,I tried my best to do it). Bensa Daye is some 135 km far away from Awassa and 270 km from Wolaita Soddo. Naturally Bensa Daye is the source of Ethiopian coffee and other beautiful fruits like banana etc.
Tabour Terara ( Mount Tabour) just 5 km away from Awassa
Large Cattle field near Aleta Wondo, about 50 km away from Awassa
Sidama Cultural Hats ( Sidamas are using the same ways to build their hats with Wolaitas). According to the experts these hats have 50 up to 100 years life span. Surprising!!!
Inset (False Banana) is the main edible plant in the whole parts of Southern region. It is evergreen plant. If a family has no any of it in its garden, that family is said to be  extremely poor in our culture. In my experience, I know many families who have no any “Inset” in their garden, that mean there are many poor families in the region. I am not talking about the poorness relative to the world but about the poorness of the people among themselves (the region). If we talk the poorness relative to the other, it has many worst things to be raised!!! FOVC works to end the cycle of poverty in the region, particularily in Shanto. We invite you to be a part of this mission to reach suffering children and families in the region. We can do it together!!!



( 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
Fax:  +251-6-204704       t_anebo@yahoo.com


Ecco’s Brazilian coffee is just about done at all locations. That means we are moving to Counter Culture for our next guest coffee. It’s been fun getting to know these guys. They roast their beans down in Durham, North Carolina.
I am so excited about this coffee. It is from a great coffee growing region in the southern part of Ethiopia, called Sidama. The name of the coffee is Shilicho which translates to “Good Taste” in Sidama. Not as wild as some other coffees from Ethiopia (Yirgacheffe), which can be very sour with varying degrees of fruitiness. This one is sort of sweet, round, and vibrant. If you take cream, we suggest you try it black first. You might be surprised how it tastes.
We’ll be pouring this Ethiopian coffee for the next few weeks at all our locations. Oh and the picture is the bar at the HUB in Inman Square, we’ve been making food there since Saturday.