Meklit Microfinance Institution S.C is an institution established according to proclamation No. 40/96 to provide financial and non-financial services to the low income people, particularly women, at both urban and rural areas of Ethiopia. It was licensed on February 16, 2000 with the subscribed and paid-up capital of birr 200,000. Meklit MFI is currently owned by one organization and seventy individual shareholders. Out of the total shares75% is owned by local NGO called Progynist.