Ethiopia is the second-most populated country in Africa. It is also one of the world’s poorest countries. Its income per capita is US$380. This is much lower than the Sub-Saharan African average of US$1,165.
84% of the population lives in rural areas. There are also more children per family than in other African countries. Large families and remote areas make it difficult for women to feed and educate their children or to find work for themselves.
Only 15% of rural households have access to savings and credit services. Our reliable financial services are making a great contribution to improving rural society.
We always strive to introduce new and innovative financial services that are enduring and last for generations. In an effort to meet the needs of our clients and reduce the impact and effects of poverty on local communities, we are engaged in the following projects:
- Rural Saving Ethiopia - a project that aims to open 250,000 savings accounts in rural areas of Ethiopia.
- Micro-banking - a broader microfinance service that enables us to subsidize the costs of smaller loans.
- For Every Child Campaign – World Vision’s five year fundraising initiative to support economic development.
Adina is a mother of two living in rural Ethiopia. She was struggling to care for her family. Both of her children didn't have enough food to eat and Adina could not afford to send them to school.
A small loan to Adina changed her life. Her business has profited and she can now offer her children a bright and hopeful future.
Worku Tsega joined our MFI in June 1998. Prior to this, he served in various managerial roles in Government, business and NGOs, including World Vision Ethiopia.
Our MFI in Ethiopia is established in accordance with the legal requirement for microfinance institutions in Ethiopia. We have a board of directors and management team that oversees the work of the MFI.