Busa Gonofa Micro Finance Institution
Year of Establishment
May 1999
Legal Status
Busa Gonofa Micro Finance S.Co. was legally registered by the National Bank of Ethiopia,
according to Proclamation No.40/1996.
Current Operational Area (s)
Oromiyaa Regional State
Future Expansion Plan
Busa Gonofa has a plan to operate in more zones in the Oromiyaa Regional State in the next
three to five years.
Loan Eligibility Criteria
• economically active poor aged between 18-55 years; Loan Eligibility Criteria
• permanent residence in the village or Kebele;
• willingness to join a self-selected group of 15-25 members;
• ability and willingness to repay loans in regular intervals (weekly, bi-weekly or monthly);
• ability and willingness to make regular saving deposit (weekly, bi-weekly or monthly) or fixed amount that will be determined voluntarily;
• willingness to respect bylaws of the group including meeting attendance, jointly liable for loans of fellow group members and other responsibilities that the group may assigns;
Some of the economic activities financed so far
• Farm-based activities (fertilizer, seed, land rent, etc.);
• Petty trading activities (in cereals, vegetable, etc.);
• Food processing and selling;
• Service rendering businesses;
• Manufacturing (pottery, shoe making, handicraft, etc.);
• Acquisition of key productive assets (ox, donkey, tools, equipment);
• Durable assets for improving livelihoods (housing improvement, acquisition of
furniture, radio/television, etc.);
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