The Establishment of AEMFI
AEMFI (the Association of Ethiopian Microfinance Institutions) was established in June 1999 as a non-profit non-governmental organization after its legal registration by the Ethiopian Ministry of Justice. It was initially established by four microfinance institutions (MFIs) namely Dedebit Credit and Saving Institution S. Co. (DECSI), Amhara Credit and Saving Institution S. Co. (ACSI), Oromia Credit and Saving Institution S. Co. (OCSSCO) and Omo Microfinance Institution (OMFI) to serve as an experience and information sharing, networking, training, promotion, and policy dialogue forum for these and other emerging MFIs. Currently AEMFI has 27 member MFIs providing microfinance activities in the areas of credit delivery, saving, money transfer, and pension payment services in 8 of the 11 regional states/administrative organs of the EFDRE namely: Tigray, Amhara, Oromia, Benishangul-Gumuz, SNNP, Dire Dawa, Harari and Addis-Ababa. AEMFI is governed by a general assembly, a board of directors, and full time executive staff.
Vision
The vision of AEMFI is to see a reduced level of poverty and increased level of consumption and ultimately wealth/capital creation in Ethiopia through an active intervention of current and future microfinance institutions growing into efficient and sustainable rural and microfinance banks. AEMFI is
committed to support MFIs that can reach millions of poor Ethiopians and play active role as financial intermediaries and institutional investors.
Mission
AEMFI's mission is to create an institutional structure that serves as a national/industry forum and network for microfinance institutions that provide microfinance services to economically and socially disadvantage Ethiopians. AEMFI helps to increase the efficiency and
effectiveness of the existing MFIs and facilitate the establishment of new ones.
Specific Objectives
Based on the vision and mission statements stated above, AEMFI strives to achieve the following objectives:
- The promotion of professional standards through training, experience sharing, exposure visits and technical assistance;
- To develop a cleared understanding and propose solutions for the microfinance sector through research;
- Influence national policy and the regulatory environment to facilitate the development of a strong microfinance industry;
- Assist in identifying sources of loan and equity funds from domestic and foreign sources
- Monitor and improve the performance of our members;
- Facilitate networking, collaboration, and information sharing nationally and internationally;
- Develop a microfinance resource center use by all interested parties;
- Advocate for the microfinance industry in all media at national and international levels.
Core Activities
To achieve its objectives, AEMFI would carry out the following programs or activities:
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Research & publication
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carrying out, coordinating, and publishing research on those
areas that are of interest to the microfinance industry
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Training
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coordinating training to enhance the skills of the board,
management, and other personnel of member microfinance
institutions |
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Exposure Visits
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organizing local and foreign exposure/experience-sharing visits to the board, management, and other pertinent staff members MFIs
so that they may learn about innovative and best practices |
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Performance Monitoring
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tracking, analyzing, and reporting the financial and operational
performance of member microfinance institutions by maintaining
an industry-wide database |
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Technical Assistance
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assessing the deficiencies of member MFIs in their management
information systems, business planning, financial management,
and manuals and procedures; and assisting them in improving the
deficiencies |
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Advocacy and Dialogue
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promoting and creating an enabling environment for the Ethiopian
microfinance industry using the media, workshops, and other
forums |
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Resource Center
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building and maintaining a collection of books and publications
relevant to the microfinance industry for use by all interested
parties |
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Networking
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liaising member MFIs and AEMFI with domestic and foreign
partners and strengthening the relationship of AEMFI with its
members and partners |
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