Omo Microfinance Mobilises 7b Br Deposits

August 14 , 2021


Omo Microfinance Mobilises 7b Br Deposits

Omo Micro Finance S.C. mobilised over seven billion Birr in deposits last year, bringing its aggregate to 36 billion Br. Established 25 years ago with an initial capital of half a million Birr and four branch offices, the institution now has total assets worth 10.7 billion Br and a paid-up capital of 1.9 billion Br. Omo is one of the five largest microfinance institutions in Ethiopia, along with Amhara, Oromia, Addis, and Dedebit. These institutions account for 82.6pc of the total capital, 90pc of the savings, and 85.9pc of the credit provided in the microfinance market. There are 41 microfinance institutions operating in Ethiopia, with an outstanding credit of 64.9 billion Br.


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