Micro-credit and Savings Program’s branch in Barentu making remarkable input in improving livelihood of beneficiaries
The Micro-credit and Savings Program’s branch in Barentu indicated that it is making remarkable input in improving the livelihood of beneficiaries.
Barentu, 29 July 2013 – The Micro-credit and Savings Program’s branch in Barentu indicated that it is making remarkable input in improving the livelihood of beneficiaries. It made the remark at an assessment meeting in Agordat city, during which it was stated that a number of beneficiaries are in a position to raise their income through engaging in small-scale commercial and agricultural ventures on the basis of the credit opportunity given over the past 6 months involving a total of 78 million Nakfa.
Mr. Mohmamed Hamd, head of the branch office, pointed out that 10% of loans go to saving so as to encourage customer saving, thus giving rise to a total deposit of 3 million Nakfa over the past specified period of time.
The participants of the meeting called for more revolving fund in line with the growing number of beneficiaries of the program in the area.
The branch office serves Barentu, Agordat, Molqi, Mogolo, Dige, Gogne, Shambuko, and Laelai-Gash sub-zones and has 2,800 customers, according to reports.