News & Events

Rating was under taken in the frame of the MFI upgrading and rating initiative of OeEB –Development bank of Austria by MicroFinanza Rating. The rating focused in the area of Governance and strategy, organization and operation, Asset quality and structure, Financial structure and management, Financial and operational result. With all these SFPI has got rating grade of B+

About Us

Establishment

SFPI is one of the earliest Micro financing Institutions in Ethiopia. It was established in 1997 and started its program in the second half of 1998 upon the completion of registration by the National bank of Ethiopia (Central bank of the country). SFPI is licensed to operate national wise.
The founder shareholders were:

  • Ethiopian National Association for the Blind
  • National Women Association for Development
  • Agri-service Ethiopia
  • Ethiopian Women Entrepreneurs Association
  • An individual Mr Hailu Wondafrash

The ownership then diversified its structure through a capital injection by CBE (current major shareholder), Dashen Bank S.co and Mr Toweldeberhan G/Tsadik while the National Women Association for Development and the Ethiopian Women Entrepreneurs Association were replaced by Progynist and Addis Ababa Women Entrepreneurs Association respectively.                            

The shareholders appoint the board of directors consisting of five members, representing each of the above parties/shareholders objectives. It has its own Article and memorandum of association set at the time of establishment. general assembly of shareholders is the higher governing body of the institution. The board of directors is the next higher governing body to oversight the management of the institution.

Vision, Mission and objectives

 Vision

  • SFPI likes to see poor people especially; women to be fully accessed to institutional credit for self-employment and see poverty free society.

Mission

  • Facilitating the socio-economic empowerment of under privileged people both in rural and urban Ethiopia availing financial and non financial services.
  • Promoting and developing research, policy and practices that encourage the improved access of poor people to support services such as training, saving, credit, technology, information, professional and technical advice etc.
  • Ensuring that its operation as well as that of its clients is financially and economically viable and sustainable.

Objectives

The Development objective of SFPI is to enhance the socio-economic empowerment of disadvantaged people especially women, through accessing them to support services such as training, credit, saving and technical assistance.  

 Core values 

  • Independence, only guided by principles of professionalism, non-affilation to and affected by politics, religious group or ethnicity.
  • Worthy of the confidence of its clients, shareholders and financiers.
  • Strong belief in the importance of client training.
  • High value for humanity.
  • Professional approach to microfinance service.

  

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