Akufada joins microfinance market

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Akufada Microfinance Institution Share Company has launched providing its services on Saturday, October 22, 2022.

The launching program was held in Debre Birhan city at Tsadkanie Building.

Government officials and shareholders, among others attended the launching program.

Tirumar Abate, State Minister of Planning and Development said that policy amendments were implemented to enable the private sector the major actor for development financing.

Officials of Akufada on their part disclosed plans of the institution.

“Akufada has a goal of the collecting annual saving of 3.5 million Birr to provide loans,” said Robel Nigussie, Board Chairperson of Akufada Microfinance S.C. on his inaugural address.

He said that Akufada launched its services with a vision of becoming among the top three private microfinance institutions in the upcoming three years.

Targeting to reach out societies with lower standard of living through loans of proportional interest rate, Akufada will deploy new products including core-technologies, Robel said.

Akudufa Microfinance Institution Share Company plans to open 50 branches until July 2023.

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