By Eyasu Zekarias
The Association of Ethiopian Micro-Finance Institution (AEMFI) alarms that there is a great deal of shortage in capital for public access due to the rise of the number of borrowers in the country.
According to AEMFI, the huge volume of borrowers has had a consequential effect in access to credit.
As the association strategically underlines; financial inclusion, job creation and women’s economic benefit are some of the strategies needed at the moment.
As Teshome Kebede, Director of AEMFI pointed out, microfinance (loan and savings) combined with digital technology plays a major role in solving and alleviating the problems faced by low or no income groups.
The Association head underscored that as the number of credit and savings provider institutions grows, it is important to establish a system that allows it to adapt to the reality of the increase and as a result must strengthening the common needs to utilize the full potential of the sector.
According to the information obtained by Capital, 30 of the 50 members of the institution are included in the core banking system.
AEMFI was set up two and half decades ago to deliver financials services to urban and rural households through; technical assistance, human capital development, knowledge management, research, networking and advocating and promoting the industry with mutual cooperation from its members, practitioners and key stakeholders.
