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.
Currently, the institution is operating in Addis Ababa City Administration, Oromia Regional State and SNNPRs. The institution is serving about 12,500 active clients through its 8 branches and 9 sub-branches. These eight branches are named; Addis Ababa, Adama, Dera, Arsi Robe, Butajira, Meki, Wolkitte and Abbomsa branches. The nine sub-branches are; Kolfe, Lideta, Sebeta, Sire, Ticho, Inseno, Endibir, Gunchure and Silti sub-branches.
As of June 30, 2015 the institution’s Total Assets, Total Liabilities, Total Capital, Gross loan portfolio and clients deposit balance are birr 63.93million, birr 37.64 million, birr 26.29 million, birr 57.65 million and birr 14.61million respectively.
“Meklit Micro Finance Institution strives to see disadvantaged groups of society, especially women, having access to sustainable financial services that eventually contribute towards the restoration of their dignity, respect and power of decision-making at different levels.”
“To improve the economic and social well-being of the productive poor particularly disadvantaged women in urban and rural settings through increased access and offering quality, customer driven and sustainable financial services.”
- The MFI target group is productive poor particularly disadvantaged women in urban and rural settings,
- The MFI address the demand of its clients through increased access and offering quality, customer driven and sustainable financial services,
- The positive changes expected from the clients and their families,
- To improve the economic and social wellbeing of the target groups.
- Provide credit services to micro and small business operators, low salaried and wage earners, farmers with feasible and viable projects and staffs of the institution;
- Mobilize savings using different techniques so that clients will be enabled to gradually break the vicious circle of poverty and improve their business potential;
- Create employment opportunities to the poor by providing permanent access to appropriate credit, savings and other support services;
- Promote income diversification and generation of the poor;
- Facilitate or/and provide capacity building programs based on the needs of clients so that they can generate adequate income;
Meklit Micro Finance Institution is established to address the financial needs of micro and small business operators, government and non-governmental employees, farmers and those who engaged themselves in income generating activities.