Dire Microfinance has underscored the importance of expanding its savings base during its 2018 first-half performance evaluation forum
Dire Microfinance held its 2018 first-half performance evaluation forum in Harar city for two days.
During the forum, the branches of Dire Microfinance presented their first-half performance reports for 2018. In addition, the operational and financial performance reports were submitted, followed by broad discussions.
At the discussion forum, it was reported that in the first half of the year, loans were planned to be disbursed to 2,115 clients, and 2,084 clients were actually served, achieving 99 percent of the target. Likewise, from the planned loan disbursement of 560,559,095 birr, 511,881,132 birr was disbursed, meeting 91 percent of the plan.
In terms of savings mobilization, 119 percent of the target was achieved in the first half of the year. Regarding efforts to benefit women and youth, loans amounting to 320,641,086 birr were planned for 1,231 women, and 1,022 women benefited, achieving 83 percent in client numbers and 89 percent in loan volume (283,971,200 birr).
To ensure youth participation, loans amounting to 213,760,724 birr were planned for 821 youth clients. However, 1,282 youth benefited, achieving 156 percent in client numbers, and 357,377,503 birr was disbursed, which is 167 percent of the planned loan volume.
In terms of loan repayment, 98 percent of the plan was achieved. It was also noted that the improvement observed in timely loan repayment was encouraging, and the Chief Executive Officer, Mr. Teshome Abebe, emphasized that even greater focus should be given to repayment discipline going forward.
The CEO further highlighted that progress is being seen in savings mobilization, and stressed the importance of working with commitment, coordination, and consistency to expand the savings base.
Regarding customer satisfaction, he explained that ongoing efforts to improve and strengthen services must align with factors that enhance client satisfaction, noting that customer satisfaction is the institution’s primary strength. He added that in the future, even greater emphasis will be placed on this area.
It was also raised that expanding access to credit and savings services for community groups in rural districts, and further promoting the participation of women and youth, will remain key focus areas of the institution.
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