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Omo  
Micro-Finance Institution

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( a )  General Information

Year of Establishment

October 1997

Legal Status

Omo Micro Finance Institution S. C (OMFI) was legally registered by the National Bank of Ethiopia, according to Proclamation No.40/1996.

Current Operational Area (s)

OMFI is operating in the following towns of the Southern Nations and Nationalities Peoples Regional Sate (SNNPRS):

• Hossana (Hadiya Zone);

• Durame (Kembata, Alaba Tembaro Zone);

• Arbaminch (Gamogofa Zone);

• Wolkite (Guraghae Zone);

• Bonga (Kafa and Sheka Zone);

• Awassa (Sidama Zone);

• Dilla (Gedio Zone);

• Mizan (Bench Maji Zone);

• Sodo (Wolayita Zone).

Future Expansion Plan

The Institution will continue operating in the SNNPRS. 

Total Number of Woredas Covered so far

52 Woredas

Total Number of Branches Opened so far

Nine Branches

Total Number of Clients Served so far

70,286

Gender Sensitivity

Male clients = 62%, Female Clients = 38%

(b)  Loan Services/Products

• Agricultural Loan;

• Petty Trade loan;

• Handicraft loan;

• Service loan.

Annual Lending Rate

15% for all loan types and no other additional charges.

Loan Size and Loan term Per Loan Cycle and Loan Type

 Loan Term, Grace Period and Collateral Requirement

Loan Eligibility Criteria

Potential clients are expected to meet the following criteria:

• Active poor with good work habit and honesty;

• Permanent residence of Kebele Administration;

• He/she must have some business and production assets such as land;

• With good loan repayment history (in case he/she received loan from other organization);

Type of Collateral Needed

Group collateral.

Some of the economic activities financed so far

• Petty trade;

• Fattening;

• Handicraft;

• Selling of agricultural products such as cereals.

Grace Period

Group collateral

Time needed to process and get loan

30 days

Business Plan Presentation

No business plan is required.

Loan Application Format

The content of the application format is:

• Name and age of the applicant;

• Type of economic activity proposed for the loan;

• Requested initial loan size;

Target Clients for Loans

Target clients are rural and urban poor households.

Willingness to lend to new business start-ups such as high school dropouts, college graduates and similar groups

No financial services to new business start-ups.

Frequency of Revising Institutional Financial Policies

The Institution revises its financial and loan policies every year.

(c) Savings Products

Clients are:

• Borrowers from rural and urban households;

• Non-borrower individuals;

• Government and non-government organizations.

(d) Other Services

The Institution provides additional services such as pension fund administration (payment).

Clients are pensioners of various organizations.

Service Out-let

Services of the Institution can be accessed through its branch and sub-branch offices.

New products to be introduced during the coming 3-5 years

Head Office

P.O.Box:  353, Awassa, Ethiopia

Telephone:  +251-6-204947/201395/202051/52/53

Fax:  +251-6-204947

E-mail: acordsha@telecom.net.et          acordsha@telecom.net.et

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