Dedebit Credit and Savings Institution SC (DECSI) is a microfinance institution operating in Tigray Region, in northern Ethiopia. With over 460,000 customers, [1] the DECSI is one of the four largest MFIs in Africa. [2]
Dedebit Credit and Savings Institution SC (DECSI) is a microfinance institution operating in Tigray Region, in northern Ethiopia. With over 460,000 customers, [1] the DECSI is one of the four largest MFIs in Africa. [2]
In 1993, the Relief Society of Tigray (REST), the main NGO in the region, launched a socio-economic poverty survey in rural areas. Lack of access to credit appears as one of the major obstacles to the rehabilitation of the region and its development. [3]
A program of credit is created to help increase agricultural production, stimulate the local economy, reduce the influence of moneylenders and increase incomes of the poor. The first operations began in 1994 and the organization will be legally recognized in 1996 as part of the first law on microfinance in Ethiopia enacted that year.
During its growth DECSI received financial support from Novib (Netherlands), Norwegian Peoples Aid and SOS FAIM.
Microcredit is the extension of very small loans (microloans) to impoverished borrowers who typically lack collateral, steady employment, or a verifiable credit history. It is designed to support entrepreneurship and alleviate poverty. Many recipients are illiterate, and therefore unable to complete paperwork required to get conventional loans. As of 2009 an estimated 74 million people held microloans that totaled US$38 billion. Grameen Bank reports that repayment success rates are between 95 and 98 percent.
Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. Microfinance services are designed to reach excluded customers, usually poorer population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient. ID Ghana is an example of a microfinance institution.
The Tigray Region, officially the Tigray National Regional State, is the northernmost regional state in Ethiopia. The Tigray Region is the homeland of the Tigrayan people. Formerly known as Region 1, its capital and largest city is Mekelle. Tigray is the fifth-largest by area, the fifth-most populous, and the fifth-most densely populated of the 11 regional states.
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The National Bank of Ethiopia (NBE) is the central bank of Ethiopia. Its headquarters are in the capital city of Addis Ababa. Yinager Dessie is the current governor of the bank.
Tigrayans are a Semitic-speaking ethnic group indigenous to the Tigray Region of northern Ethiopia. They speak the Tigrinya language, an Afroasiatic language belonging to the Ethiopian Semitic branch.
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Alamata is a woreda in Tigray Region, Ethiopia. Part of the Debubawi Zone, Alamata is bordered on the south and west by the Amhara Region, on the northwest by Ofla, and on the northeast by Raya Azebo. Towns in Alamata include Waja. The city of Alamata is a separate entity and is surrounded by Alamata woreda.
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Microfinance Information Exchange, Inc. was a non-profit organization that provided market data and intelligence on financial service providers catering to low-income populations around the world. Founded by the Consultative Group to Assist the Poor (CGAP) and sponsored by the Citi Foundation, CGAP, the Mastercard Foundation, MetLife Foundation, Bill & Melinda Gates Foundation and others, MIX had offices in Washington DC, New York, Lima (Peru), Baku (Azerbaijan), Dakar (Senegal), and Hyderabad (India). MIX's mission was to provide data analytics to empower decision-makers - socially responsible investors, policy makers and financial services providers - to build an inclusive financial services ecosystem. Since its founding in 2002, MIX had built the digital information infrastructure needed to bring greater transparency to financial sectors serving low-income populations in emerging markets, including providing market data on over 3,000 financial services providers (FSPs). In 2016, MIX shifted its strategy to help improve the information flow in other segments of financial inclusion, like smallholder agricultural finance, fintech, digital financial services (DFS) and green energy finance. In May 2020, MIX became a unit of the Center for Financial Inclusion, a thinktank housed at Accion.
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