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For Genet Tadesse and her husband, this was their obsession.
He had a steady job at a textile factory, but the income wasnt
enough to lift them out of poverty.
Then Genet learned of a German-funded training program for
the production of energy-efficient stoves. This paved the way for
a 2,000 ETB ($100) loan from ACSI, Africas largest
microfinance institution (MFI). Like microentrepreneurs around
the world, Genet saved, invested, borrowed more, and
diversified, adding brick production to her business mix.
Both businesses did well. Very well. So well in fact, that demand outstripped her supply. She knew shed hit
on a winning business model. Now she needed the production equipment to expand. And for the
equipment, she needed money 450,000 ETB ($22,500) for machinery and working capital more than
microfinance institutions typically provided.
But she had a credit history with ACSI. So even though they were a microcredit institution, she asked if a
450,000 ETB loan was possible. Thanks to the WEDP program, it was.
Like most MFIs, ACSIs focus was microcredit loans averaging around 3,000 Birr ($150). But they had
begun experimenting with larger, individual loans, and
successfully applied for access to the World Bank funded WEDP
credit line, targeting urban, female small business owners. The
My income increased tremendously
MFIs first WEDP loan was disbursed in February, 2014.
after getting the loan from WEDP
ACSIs average WEDP loan size is 384,000 Birr. On average, manufacturing firms like Genets received the
largest loans. But all of ACSIs WEDP loans fall within Ethiopias missing middle, borrowers seeking loans
in the 50,000 1,000,000 Birr
range who were previously too
ACSI's Average Loan Size by
large for MFIs and too small for
Sector (ETB)
commercial banks.
600,000