Saturday, March 23, 2013
Posted By: Nomonanoto Sidama | At: 3/23/2013 12:25:00 PM
Posted By: Nomonanoto Sidama | At: 3/23/2013 12:06:00 PM
( a ) General Information
Year of Establishment
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
iMicro Business Loan;
iService and Handicrafts Loan.
Loan Size Term Per Loan Cycle, Interest Rate and other fees
Loan Eligibility Criteria
Type of Collateral Needed Group and Center Guarantee are required.
Some of the economic activities financed so far
Grace Period and Time needed to process and get loans
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
( 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
Frequency of revising loan policies As per needed.
Posted By: Nomonanoto Sidama | At: 3/23/2013 12:04:00 PM