Amhara Credit and Saving Institution
(ACSI)
The start of ACSI’s operation has now above 10 years of age. Its establishment was made up of the government and other four local Developmental NGOs shareholdings. Its range of services constitutes credit services of about four products (namely installment, term, asset, and micro bank loans). The savings services on the other hand comprise products such as those in the compulsory category (upfront and monthly ongoing savings) and voluntary savings with passbook and fixed time deposits forms.
Rapid performance assessments can reveal that ACSI has done an impressive growth both in terms of client and portfolio as well as in its financial performance. Its active credit clients have reached above 550,000 and the voluntary savings of above 250,000. The portfolio stock of Birr 663 mill is also a result of the institution’s appreciable growth in its past operational periods. The capacity of operational and financial self sufficiency of the institution is also showing improvement in the recent years. The latter is the result of, among other factors, the high efficiency achieved by the institution.
Yet, the institution has remaining challenges. Fulfilling infrastructures (such as computerization of the manual MIS), and improving the risk management capacity of the institution and additional efforts towards diversifying operations, especially to help the achievement of its noble vision of poverty alleviation are some of the challenges. Thus more in-depth work will be done in the areas of product diversification and establishing effective integration of its services with other financial and non-financial services that could help bring sustainable impact among the clients of ACSI.
Governance and Management
Governance and management issues can include the following: the performance of the board and management in terms of their effectiveness in the areas of leadership, integrity, judgment, and decision making. The board is also expected to determine the purpose, strategy and implementation of micro finance values. The role played by the shareholders to monitor the appointment and performance of the board and management bodies is also relevant so as to check the board and managements competency. The board of directors is the highest organ of the institution.
Operations
Microfinace activities of credit and savings service deliveries represent ACSI’s
main operations. Besides, ACSI also provide other financial services such as pension
fund management (in collaboration with the government’s Social Security Authority)
and that of money transfer services for institutions.description of the content
of each of the services and/or products is presented below.
Credits
-Installment loans
-End -term loans
-Business and asset loans
Savings
-Compulsory savings
-Voluntary Savings
Other financial services
|
|