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PEACE MICROFINANCE S.C

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Core Function

PEACE MFI is engaged in the delivery of both Savings and loan services.

Loan products: There are two major categories of loans: agricultural loans and non-agricultural loans. Non-agricultural loans are provided for clients engaged in petty trade, local beverage production, artesian, hairdressing and barber, transport services using carts, etc. Agricultural loans are taken for goat and sheep rearing, purchase of oxen, fattening, purchase of select seed, fertilizers, dairy cow, etc.
All loans are provided on the basis of group guarantee and joint commitment of group members.

About Us

  • Most women who had no self respect and no self esteem and who have no good perception of themselves and by others have got self respect and self esteem and good perception, became joyful as well as receive respect from other members of the household and the community.
  • The women whose roles have been limited to child bearing and other household chores have now become influential decision makers at household and business level, because of the income they generated and savings mobilized by them. The women, who experienced violence, disrespect and ashamed of requesting their husbands for every minor expense are now covering their own personal expenses and partially their children’s and household expenditures. After the loan there is calm at home, respect from their respective husbands and the latter’s parents. There is also strong involvement in household decision making by women clients at least jointly with their husband
  • The women clients participate in the community affairs and social networks not as a passive member only as used to be in the past. Rather they have got respect and recognition in the community and hence actively participate in many of the social affairs. Some have even goes to the extent of leading the Kebele’s (local administrative unit) and Iqqub or Iddirs.

 
Loan and Savings use strategies
  • 56 % of clients had no habit of saving before joining the PEACE program. This definitely reflects the fact that participation in the program encourages savings. 80 % of the respondents have mentioned multiple mechanisms of saving. Majority of clients have mentioned Equib as the most important way of saving; next to equib Cattle and livestock and Edir were mentioned as the most important alternative saving mechanisms. The top three reasons for savings in order of importance are: reserve for bad times or emergency, starting or expanding of business and as a means to access loan.
  • Food self sufficiency, freedom from richer farmers and from vendors and money lenders were the primary changes realized in the life and businesses of clients of Kuy branch after the first loan cycle.  During the significant loan cycle Self dependence in farming and increased ability to cloth and feed children were the changes realized by clients
  • Except for seven clients (18%) who stated that they made no profit during the first cycle; all other clients realized profit during the first and significant loan cycles. Majority of clients used the surpluses they earned after the end of the first cycle to construct and improve their houses, to expand their business and to purchase of cattle and sheep. Business expansion was the most important area of using surpluses during the significant loan cycle; followed by purchase of cattle and sheep, house construction and improvement and house hold expenditures.
  • Majority of clients have said that they did not have any comparable choice to PEACE. All the choices they could have considered are unreliable and not dependable

 
External Audit Report 2021

"In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company as at 30 June 2021 and its financial performance, and its cash flows for the year then ended in accordance with the International Financial Reporting Standards."

TAY Authorized Accountants and Auditors,

 
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Partners & Linked Organizations

Agriservice Ethiopia

Oxfam NOVIB

Women's World Banking

TRIPLE Jump

Microfinance Information Exchange

Planet Rating 

Micro Finance African Institution Network (MAIN)

http://www.mainnetwork.org

Association of Ethiopia Microfinance Institution

http://www.aemfi-ethiopia.org

http://www.mossict.com

Existing Clients

PEACE Achievements

PEACE has achieved a competitive position in the Ethiopia MF sector through a focus strategy that targets rural low income women.  It has experienced significant growth during the past years and the market still has a high level of unmet demand.