Location | Finfine/Addis Ababa/, Ethiopia |
Phone | +251 115 571118 |
Phone 2 | +251 115 571160 |
Phone 3 | +251 115 571145 |
Fax | +251 115 571152 |
Oromia Credit & Saving S.C. (OCSSCO) is one of the largest & leading Microfinance Institutions in Ethiopia. The company was first established as Oromia Credit & Saving Rural Schemes Development Project/OCSRSDP/ under Oromo Self Help Organization/OSHO/on January 1, 1996 and later grown to a microfinance institution on August 4, 1997 getting its current name - OROMIA CREDIT & SAVING S.C.
Today, OCSSCO has 339 branches operating mainly in the regional state of Oromia, Harar, Finfine (Addis Ababa) and Dire Dawa. In the past 20 years, the company has also been able to register tremendous achievements in all its operations and capital formation. Its capital and assets have currently grown to 2.1 Billion ETB & 8.71 Billion ETB respectively. Similarly, the company has demonstrated notable performances in expanding client outreach, enhancing disbursement and saving mobilization.
Company’s performance status as of June 30, 2017 |
|
Portfolios |
5,952,187,818.73 |
Deposits |
4,817,756,095.26 |
Capital |
2,084,781,777.39 |
Assets |
8,706,484,953.73 |
No. of Active Clients in 2016/17 |
889,146 |
Staffs |
4,804 |
Aspire to be world class MFI contributing to economically empowered and transformed society.
Provide affordable, innovative and customers responsive financial services to rural and urban economically active people to improve their income
Company has been offering diversified loan products to its customers. Solidarity group based loan, MSE Loan, Business loan, WDEP Loan, General purpose loan, Business Loan, Housing loan and Interest Free Finance are the major loan products of the company.
SGBL is a microloan that self organized groups in rural and urban settings are eligible to borrow through group liability. It targets all segments of low income population but mainly women and unemployed youths.
MSEL targets higher education institution graduates as well as other unemployed youths or individuals who establish one of business entities such as Cooperatives, Sole proprietorship, Partnership, Share Company and Private Limited Company.
BL is a loan type that offered to individual or group business runners. The operators need to present matching collateral for their loan request i.e. obviously legal urban house.
WEDP loan intends to enhance women owned individual businesses or enterprises through ensuring financial support. The main targets are individual businesses owned by women and of organized women enterprises that are in operation for at least 6 months.
GPL is a loan product for permanent employees of government and non government organizations that borrowed for any personal affairs through presenting equivalent salary guarantee.
This is a housing loan for employees to contribute toward the efforts that have been made by government in reducing the housing problems in towns. HL is provided to permanent government and non-government employees, police forces and government appointee officials who can present required guarantee or collateral.
IFF is finance services delivered to clients who don’t want to borrow with interest due to their religion. The service is offered in consistent with Islamic (Sheria) finance principles. OCSSCO provides interest free finance known as Murabaha Financing which is an asset-based sale transaction used to finance goods.
MSEL targets higher education institution graduates as well as other unemployed youths or individuals who establish one of business entities such as Cooperatives, Sole proprietorship, Partnership, Share Company and Private Limited Company.
BL is a loan type that offered to individual or group business runners. The operators need to present matching collateral for their loan request i.e. obviously legal urban house.
WEDP loan intends to enhance women owned individual businesses or enterprises through ensuring financial support. The main targets are individual businesses owned by women and of organized women enterprises that are in operation for at least 6 months.
GPL is a loan product for permanent employees of government and non government organizations that borrowed for any personal affairs through presenting equivalent salary guarantee.
This is a housing loan for employees to contribute toward the efforts that have been made by government in reducing the housing problems in towns. HL is provided to permanent government and non-government employees, police forces and government appointee officials who can present required guarantee or collateral.
IFF is finance services delivered to clients who don’t want to borrow with interest due to their religion. The service is offered in consistent with Islamic (Sheria) finance principles. OCSSCO provides interest free finance known as Murabaha Financing which is an asset-based sale transaction used to finance goods.
S/L |
Product Type |
Modality |
Maximum Loan Size |
Maximum Loan Term |
Interest Rate |
Service Charge |
Collateral/ Guarantee |
1. |
Rural Solidarity Group Based Loan |
In group |
15,000 ETB |
1 yrs |
17 % |
3% |
Group liability |
2. |
Urban Solidarity Group Based Loan |
In group |
15,000 ETB |
1 yrs |
17 % Decline |
3% |
Group liability |
3. |
Micro & Small Enterprise |
As business entity |
Depends on business plan & collateral |
Up to 5 yrs depends on cash flow |
13 % Decline |
3% |
House, Salary, land certificate, vehicle, institutional guarantee |
4. |
Business Loan |
As business entity |
Depends on business plan & collateral |
Up to 3 yrs depends on cash flow |
17 % Decline |
3% |
Legal Urban House |
5. |
WEDP Loan |
As business entity |
Depends on business plan & collateral |
Up to 3 yrs depends on cash flow |
13 % Decline |
3% |
Legal Urban House |
6. |
General Purpose Loan |
Individual |
Depends on borrower’s salary |
2 yrs |
17 % Decline |
3% |
Salary or House Guarantee |
7. |
Housing Loan |
Individual |
Depends on borrower’s salary |
5 yrs |
17 % Decline |
3% |
Salary or House Guarantee |
8. |
Murabaha MSE Finance |
As business entity |
Depends on business plan & collateral |
Up to 5 yrs depends on cash flow |
Markup |
NO |
Group liability |
9. |
Murabaha Individual Finance |
As business entity |
Depends on business plan & collateral |
Up to 3 yrs depends on cash flow |
Markup |
NO |
Legal Urban House |
10. |
Murabaha Group Based Finance |
In group |
15,000 ETB |
1 yrs |
Markup |
NO |
Group liability |
OCSSCO offers different saving products identified as Regular, Handhura (minor saving), Sebeta Ayo (women saving), Sorema (pension saving), Wadia Saving, Coin box saving, Fixed Time Deposit and Current Account. The following table shows the distinct features of each.
S/L |
Product Type |
Interest Earned |
Minimum Opening Balance |
1. |
Regular Saving |
7% |
30+ |
2. |
Handhura /Minor/ Saving |
7% - 12% |
30+ |
3. |
Sebeta Ayo /Women Saving |
8.5% |
30+ |
4. |
Sorema /Pension/ Saving |
7% - 10% |
30+ |
5. |
Wadia Saving |
No |
10+ |
6. |
Coin-box Saving |
7% |
30+ |
7. |
Fixed Time Deposit |
7.15% - 8% |
30,000+ |
8. |
Current Account (Check) |
No |
1,000+ |
OCSSCO provides M-BIRR service which is a mobile money service that allows customers to do financial transactions from the convenience of your mobile phone at anytime from anywhere. This service enables customers to;
“There is no need to travel or queue. As long as you have money on your account you can transact from the convenience of your phone.”
OCSSCO administers third part funds. The company and several partners’ with common objectives have been jointly providing of micro credit for different purposes like solar energy, biogas, etc.
W.A. Liqii fi Qusannaa Oromiyaa
የኦሮሚያ ብድርና ቁጠባ አ.ማ
Oromia Credit & Saving S.C. (OCSSCO)