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SIDAMA 
Micro-Finance Institution

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( a )   General Information

Year of Establishment

July 1998

Legal Status

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

Current Operational Area (s)

SIDAMA is operating in the Southern Nations and Nationalities Peoples Regional State (SNNPRS).

Future Expansion Plan

SIDAMA has no intention of expanding to other regions. It rather wants to increase the number of Woredas to be served in the same region from 15 to 20 within the next three to five years.

Total Number of Woredas Covered so far  10 Woredas

Total Number of Branches Opened so far  Nine Branches with five sub-branches.

Total Number of Clients served so far  12,318 with 3,218 urban and 9,100 rural clients.

Gender Sensitivity  Male clients = 52%, Female Clients = 48%

( b )  Loan Services/Products

iGeneral Loan;

iMicro Business Loan;

iAgricultural Loan;

iService and Handicrafts Loan.

Loan Size Term Per Loan Cycle, Interest Rate and other fees

Loan Eligibility Criteria

• Client's experience in performing his/her business activity that he/she asked loan for;

• Availability of market for the product/service of the client;

• Willingness to form groups (of five members) and center (of four to five groups) and access loans on a group and center guarantee basis;

Type of Collateral Needed  Group and Center Guarantee are required.

Some of the economic activities financed so far

• Trade (selling of coffee, chat, grain and other staple crops);

• Fishing business;

• Cattle fattening and selling;

• Selling of diary products such as butter and milk;

• Small restaurants, tearooms;

• Preparation and selling of local drinks;

• Selling of 'enset' products.

Grace Period and Time needed to process and get loans

Business Plan Presentation  No special business plan is required from clients except a brief statement and justification on the purpose of the requested.

Target Clients for Loans

The primary clients of SIDAMA are:

·          Rural poor peasants;

·          Off-activity operators;

·          Micro and Small Enterprise Operators.

Special emphasis is given to women clients.

Target Clients for Savings  Urban and Rural poor households.

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

New business start-ups can access financial services of the Institution.

( c ) Savings Products

( d )  Other non-financial Services  No other services apart from financial services.

Service Out-let Through branch/sub-branch offices.

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

Frequency of revising loan policies  As per needed.

Address

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