BUUSAA GONOFAA MFI
Buusaa Gonofaa Microfinance SC (BG) is incorporated under the Ethiopian law as a profit making Share Company. It is a non-bank financial institution regulated by the central bank; it has license number MFI/11/99 from the National Bank of Ethiopia with a mandate to take deposits from the public at large.
We are a mission-driven organization committed to enabling people unleash their potentials and improve their wellbeing through access to inclusive and appropriate financial services. We are founded in May 1999 and issued our first micro loan (of Birr 300 per borrower or about USD 40) in November 1999. We started with a tiny loan size of birr 300 per borrower (or less than USD 40) and over time we have built a network of 30 branches serving ‘unbanked’ low-income households in rural areas of Oromia region. Currently, we are one of the leading private MFIs in Ethiopia in terms of the number of active clientele base.
We work with target groups that are traditionally viewed as ‘un-bankable’ primarily due to socio-economic barriers. Today, BG MFI serves 72,012 active clients as on Dec'2012, mostly enterprising women and hardworking smallholder farmers that are the back bone of the nation’s bread and butter. In some of these communities, we are the only provider of formal banking services that the clients have ever contacted. That is why even the opportunity to borrow or save the smallest amount of money has a far reaching impact on their ability to take control of their life.
We kindly invite you to explore the following pages to learn more about Buusaa Gonofaa – how we came in to being and why we are here, and about the leadership team whose energy and passion are behind our every effort of supporting people realize their dreams, dreams of building secure livelihoods and living with dignity.
