African Banker Awards for the 2010 shortlists ACSI Ethiopia as Microfinance of the Year

Amhara Credit and Saving Institution (ACSI - Ethiopia) has been shortlisted as Microfinance of the Year by The African Banker Awards for the 2010 edition of the annual event. This year, according to organisers, competition is characterised by a more even geographical spread of financial institutions making the selection cut.

Other nominees under this category are BRAC Uganda Microfinance Ltd. (Uganda), Equity Bank Ltd (Kenya) First Microfinance Foundation (Egypt) and National Bank for Development (Egypt).

Source: 

http://www.bizcommunity.com/Article/410/40/52169.html

About ACSI:

Amhara Credit and Savings Institution (ACSI) is the largest microfinance institution in Ethiopia. Its primary mission is to improve the economic situation of low-income, productive poor people in the Amhara region through increased access to lending and saving services. ACSI was initiated in 1995 by the Organization for the Rehabilitation and Development in Amhara (ORDA), an indigenous NGO engaged in development activities in the Amhara region. ACSI undertook its pilot activities in 1996, and was licensed as a microfinance company in April 1997. The organization has ten branches, 185 sub-branches and over 2000 employees. It focuses on financial services support for small farmers and makes predominantly agricultural loans using the group lending methodology. In 2007, ASCI was ranked sixth in the world and 2nd in Africa by Forbes magazine in a survey listing the top 50 microfinance institutions in the world.

Email: acsi1@ethionet.et

Website: http://www.acsi.org.et