About Us

Akufada Micro Finance Institution S.C is a share company registered by the National Bank of Ethiopia according to Micro-Financing Business Proclamation No. 626/2009 and (amendment) proclamation No. 1164/2019. Its business license was issued on 01/08/2022 with license number MFI/055/2022 and officially it has been started its operation on October 22/2022. It is established to provide financial and non-financial products to active poor and missing middle income society through affordable loans, savings and micro insurance services in order to contribute its share for the development of the national economy.

Akufada Micro Finance institution head office is located in Debre Birhan city administration. Now days, Akufada Microfinance Institution is a rapidly growing financial institution with a strong presence in the country. With a collected deposit of 1.5 billion birr and disbursed loans amounting to 1.3 billion birr as March 31/2024 report, Akufada has demonstrated its commitment to providing financial services to the community. Currently, the paid up capital of the institution has reached 101 million. The institution’s expansion is evident through the establishment of 42 branches which signifies its dedication to reaching and serving a wide customer base. With an impressive customer base of 85,036, Akufada has successfully gained the trust and confidence of a significant number of individuals and businesses. As Akufada Microfinance Institution is currently in the implementation and testing stage of deploying core banking technology, it is evident that the institution is committed to leveraging modern technology to enhance its operations and improve customer service. This strategic move reflects Akufada’s dedication to staying at the forefront of financial innovation.

Akufada MFI, one of the newest microfinance institutions in Ethiopia, announced that it is in the final stages of procuring its Core Banking and Digital Banking Systems. The systems will enable the institution to offer a range of products and services to its customers, such as savings, loans, insurance, remittances, mobile banking, and Internet banking.

Overall, Akufada Microfinance Institution’s impressive growth, strong customer base, and investment in modern banking technology position it as a significant player in the financial sector, poised for continued success and positive impact on the community.