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Wegagen Bank

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Year of Establishment

1997

Current Operational Area (s)

• Tigray (Mekele, Adigrat, Humera)

• Oromiyaa (Shashemene, Tullu Bollo, Agaro)

• Amhara (Bahir Dar, Konbolcha, Gondar)

• Southern Region (Awassa, Yirgachefe)

• Somali (Jijiga)

• Addis Ababa (Bole, Goffa, Meskel Sq., Merkato, Mesalemia, Teklehimanot,

• Gerji)

Total Number clients served so far

40,352

Total Number of Branches Opened so far

22

Future Expansion Plan

The Bank shall continue operating in the above major towns of the city.

Loan type, loan term, lending rate and other payments

Maximum Loan-term various between 24 to 60 months.

Economic Sectors Financed by the Bank

• Agriculture, Manufacturing, Construction, Transport, Health Services, Whole Sale & Retail Trade, /import and Export Trade

Additional Services envisaged to be provided by the Bank during the next 3 to 5 years:

Loan

• Lease Financing

• Credit Card

Savings

ATMs

Loan Eligibility Criteria

• Profitability of the Business;

• Liquidity of the Business;

• Debt-Equity Ratio (Borrower’s contribution);

• Managerial Capacity;

• Goodwill of the Business;

• Macroeconomic conditions related to the Business;

• Borrower’ s Honesty, ability and general character

  Collateral Requirement

• Building, vehicles, financial guarantee, personal guarantee based on the degree of risk assumed in the business.

Business Plan Presentation

The Bank requires Business Plan whose contents may vary according to the nature of the business. The following items, however, should be incorporated in all business plans:

• Mission, Goal and Objectives of the Business;

• Strategies and analysis of internal and external environment (Strength, Weakness, Threat and Opportunities/SWOT Analysis).

Application Form

Not specified

Financing Micro and Small Enterprise Sector Operators

Any enterprise fulfilling the loan eligibility criteria can be financed.

Plan to avail loan fund to Micro Finance Institutions (MFIs)

Not specified

Financing New Business Start-ups such as college graduates and school dropouts:

No

(c) Savings Products

No.	Type of Saving	Annual Deposit Rate
1.	Checking account	No
2.	‘Now’ saving	3.25%
3.	Zero-balance account saving	3%
4.	Savings deposit	3%
5.	Time deposit	it depends on time and amount
6.	Children’s Trust Fund	3.5%

(d) Other  Services

• Local Money Transfer

Service Out-let

The services of the Bank are accessible through its branch offices.

Address

P.O.Box:  1018 Addis Ababa, Ethiopia

Telephone:  +251-1-523800

Fax: +251-1-523520

E-mail:  Wegagen@telecom.net.et

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