Ethiopia: Specialized Financial and Promotional Institution (SFPI)
An urban MFI, which extends into rural areas. SFPI is
a microfinance institution created in 1997. It concentrates its activities
in and around Addis-Ababa (the capital), through 4 agencies (coordinated
by a headquarter). But an extension strategy into rural areas is under
way. First support actions in favour of three women’s organizations
in the Oromo region
have shown encouraging results. Recipients of SFPI
services are small shop keepers, craftsmen and farmers. Absolute priority
is given to women.
With its support SOS Faim wants to increase credit funds of SFPI to reach the following objectives:
- increase the number of clients to 25 000 in 2006 ( 70% women), which means that some 150 000 persons would be directly or indirectly involved ;
- extend activities to all Addis-Ababa districts as well as into the Oromo and Amhara regions;
- encourage local saving systems to reduce financial dependence from external partners
- reach financial autonomy of the MFI by 2007.
Financing: To develop SFPI activities and to help it to become autonomous, SOS Faim needs 57.400 € per year.
