Dire Microfinance has been actively strengthening its efforts to broaden accessibility for its large-scale clients. The institution recently concluded a two-day meeting dedicated to reviewing the 2018 fiscal year performance report and orienting the 2019 fiscal year plan.
Presenting the 2018 report, Chief Executive Officer Mr. Teshome Abebe highlighted that the majority of Dire Microfinance’s major clients are drawn from low- and middle-income communities. He emphasized the institution’s focus on group lending, noting that in 2018 alone, 105 million birr was disbursed to 1,658 clients.
The CEO reported that the total outstanding loan portfolio exceeded 1.8 billion birr, while the institution’s capital surpassed 758 million birr. Net savings also grew to more than 1.3 billion birr. During the fiscal year, loans amounting to over 960 million birr were extended to 3,765 individuals, achieving 90% performance in outreach and 88% in financial targets, with the portfolio-at-risk reduced to 0.65%.
Looking ahead, Dire Microfinance plans to distribute more than 1.2 billion birr in loans to 4,756 clients in 2019, while mobilizing savings exceeding 2.7 billion birr. The CEO underscored the importance of continuing to prioritize rural communities and women’s access to credit, ensuring inclusivity and sustainable growth.
Branch offices also presented their performance reports during the meeting, followed by discussions and the issuance of operational directives. The 2019 fiscal year plan and the Board of Directors’ resolutions and strategic directions were formally introduced.
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