Give entrepreneurship in Ethiopia a boost

Buusaa Gonofaa (BG) and Specialized Financial & Promotional Institution (SFPI) are government approved micro-financing institutions (MFIs). They offer financial services (saving, credit, transfers, insurance) to the poorest of the poor, and specifically to women. 
 
Already collected € 7.500
Searched budget € 57.920
NGO
SOS Faim
Location
Ethiopië, regio’s Oromo en Amhara
Project duration
2017 - 2021
Co-financing
DGD (80%)
Project code
06005
Theme
Financiering
Microcredit for rural entrepreneurs as a weapon in the struggle against poverty

PURPOSE


Under the auspices of this project both institutions will be able to design financial products that are aligned with the needs of family farming.


BUDGET REQUESTED VIA ENTREPRENEURS FOR ENTREPRENEURS


Donations requested for:
- 2019: € 20.100
- 2020: € 19.300
- 2021: € 18.520
 

SOCIAL IMPACT


In the rural areas, where about 80% of the population lives, the development of agriculture and general economic activity are the most important levers in the struggle against poverty. The micro-financing institutions want to expand their reach in remote rural areas by providing rural savings and credit associations and through innovation at ICT level (e.g. through mobile applications for banking transactions). In 2018 this project reached about 97,000 beneficiaries (of which more than 60% were women) through microcredit.


KEY WORDS 


- Microcredit
- Agriculture
- Rural economic activities
- Women
- Improved income