New loan offer in ethiopia
Lone offer in Ethiopia through the collaboration of master card foundation, financial institutions, and governmental and non-governmental institutions
The Mastercard Foundation and First Consult have joined forces to provide lone offers in Ethiopia also launch the MSEs Resilience Facility. The lone offer in Ethiopia program will help micro and small-sized enterprises in Ethiopia weather the impact of the COVID-19 pandemic. The amount and type of support that is provided will vary based on the size of the enterprise and its needs.
Through MasterCard foundation COVID-19 Recovery and resilience program initially make a commitment of USD 2 million from the Mastercard Foundation COVID-19 Recovery and Resilience Program, this will help solvent MSEs keep their employees and create new work opportunity in the wake of the COVID-19 crisis.
Lone offer in Ethiopia program will rescue 24000 Mses (20000 micro and 4000 small enterprises from collapsing and rescue more than 50000 jobs from cut back, the facility consists of Investment committees, master card foundation representatives, job creation commission, a first consultancy.
The program will be monitored and implemented using the collaboration of the following institutions.
lone offer in Ethiopia collaborators
1, The Mastercard Foundation
Is an international non-governmental organization established in Canada in 2006 by Mastercard? Through its Young Africa Works initiative, the Mastercard Foundation focuses on helping young people in Africa access opportunities by advancing education and financial inclusion opportunities.
2, Ethiopian, Jobs Creation Commission
Established in 2018, is mandated to lead the national job creation agenda, coordinate stakeholders, as well as monitor and evaluate performance.
3, First Consult
Is a leading consulting firm in Ethiopia specializing in the delivery of effective and business-oriented solutions to organizations in the development, business, finance, and investment sectors.
Awash Bank is a bank that has thrived over 25 years in a rapidly evolving market and economy. Having grown from humble beginnings with visionary intent, Awash has expanded through a combination of substantial organic growth and an enhanced customer service experience.
Dashen Bank coined its name from the highest peak in Ethiopia, mount Dashen, and aspires to set new heights through the delivery of unparalleled banking services. Dashen is among the biggest private Banks in Ethiopia.
6,Kifiya Financial Technology PLC.
Is an E Commerce and digital payment services’ provider which leverages innovative technology to build and enable distribution channels that make financial and non-financial services accessible and affordable.
7,The Investment Comitee
the investment committee is a committee which comprises eight members, investment committee will make sure that there is no biases are in place inorder to make decision,implementation process integrity is maintained, the objectives are parallel or aligned with government prime concern ,the decisions are advisory and sturdy.
Lone offer in Ethiopia beneficiaries
On lone offer in Ethiopia, the beneficiaries are micro and small enterprise functioning in Addis Abeba are the targeted beneficiaries because due to lockdown and fast transmission of covid 19 as compared to other cities. it’s assumed that due to the above factors Mses in Addis Abeba are vulnerable to covid 19 and face difficulties to sustain their business with adequate support.
Also,, businesses run by women will be prioritized
- Residence(kebele Id)
- Marriage status certificate, if applicants are single the issue date should not be greater than 6 month
- financial statement
- Rental contracts
- Tax clearance
- Tax identification (tin no)
- Business license
- priority will be given to women oriented and youth centred buisneses
- Applicants must work in addis abebe or must have Kebele ID
- Enterprise must operate at least for a year
- enterprises must be either micro or macro
where to apply
Applicants can apply using the application form through the dedicated web portal on https://www.ethiomsefund.com or get support from Awash and Dashen bank addis abeba branches.