Addis Credit and Saving Institution S.C. (ACSI) disclosed it extended 450 Million Birr loan during the first three months of the current fiscal year.

According to the Institution’s Public Relations Head, Mieraf Alemayehu, the loan was given to a total of 8,649 clients that are working in different sectors, organized in groups and individually.

The loan extended during the period has increased by 48.3 percent when compared to the same time last year. On the other hand, the sum of money collected has also increased by 33.8 percent when compared to last fiscal year’s first three months.

Out of the entire 450 Million Birr ACSI extended, majority of it went to clients that engaged in manufacturing, construction, trade, services and urban agriculture sectors, Mieraf explained.

More than 97 percent of beneficiaries of the loan service reimburse the loan on time, she added.

According to Walta Information Center, ever since its establishment ACSI disbursed over 4.3 Billion Birr loan for over 314,000 clients and collected 2.7 Billion Birr as saving.

Source: Walta Information Center