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Akufada Microfinance earned 47 million birr before tax

#ethiopia | Akufada Microfinance has announced that it has achieved good performance in the 2023/24 financial year. According to the report, it made a profit of 47 million birr before tax in the last financial year. 

In the financial year, the total income was 232 million birr, and our expenditure during the year was 183 million birr, so we were able to make a profit of 47 million birr. The cost reduction strategies implemented by our institution contributed greatly to the profits achieved.

The total deposit amount of more than 95 thousand customers of our institution has reached 1.636 billion birr, and it has provided credit services of more than 1.6 billion birr to 8 thousand 250 customers; Loans provided for domestic consumption loans, business expansion, agricultural loans, home and vehicle purchase loans have been made accessible to the community. 

 This institution, which started with a capital of 21 million birr, currently has a paid-up capital of 136 million birr and the total assets of the institution have reached 1.9 billion birr.

A big thank you to our customers, board of directors and management members as well as our employees who have contributed a lot to this year's results.

 In the 2017 financial year, our institution offered shares for sale worth more than 1.2 billion birr, and by generating 200 thousand 052 customers, collected deposits of 3.3 billion birr and provided loans to customers of 3.6 billion birr for 20,002 customers. Also the share profit in one thousand Birr; He said he will work hard to distribute five hundred birr.