Micro-Credit and Savings Program in Southern Region

Mendefera, 09 February 2024 – The micro-credit and savings program in the Southern region reported commendable efforts in providing services to customers in 2023. This report emerged during an activity assessment meeting held on 6 February in Mendefera.

During the meeting, administrators, heads of economic development, and representatives of the micro-credit and savings program from all 12 sub-zones participated.

Mr. Tirfe Gebreyohannes, head of the branch office, presented the activity report, highlighting key points. According to Mr. Tirfe, the amount of distributed loans, which was approximately 23 million in 2022, increased by 12% in 2023. Additionally, the number of customers rose from 9,111 to 9,431, and the number of village banks increased from 138 to 149.

Recognizing the positive impact of the micro-credit and savings program on the livelihoods of many citizens, Mr. Tafla Asmerom, the acting manager of the program, emphasized the need for coordinated efforts from stakeholders and administrators.

During the meeting, participants engaged in in-depth discussions and endorsed several recommendations, including conducting investigations on individuals before providing loan services, among others.

The micro-credit and savings program in the Southern Region serves customers in 661 villages.