Aggar Micro Finance Share Company (AMFSC) is the first commercial private microfinance licensed in line with NBE regulation on March 18/2004 and started operation in April 2004. It was initiated by few enlightened individuals to address the “missing middle” as often called the MSE’s. The founders envisioned to address both social and profitability objectives. Aggar was established by 443 shareholders with paid up capital of Birr 4,243,600.00. Currently its shareholders grew to more than 995 and its paid up capital is more than 385.274,000.00. Agar started its service with only 2 branches, but it has now grown to 29 Branches. The number of employees has increased from 31 to more than 300. The company Provides Loan and Saving services in Ethiopia Five Regions that is Central Ethiopia, Sidama, Oromia, Amhara and Addis Ababa.
Vision
To become household name with the state of art and practice for the provision of inclusive financial services.
Mission
To provide demand driven financial products with high level of service excellence backed by technology, creating conducive working environment for employees to make progressive return on investment for shareholders in a socially responsible manner.
Core Values
A – Accessible
G – Growing together
G – Genuineness
A – Advancement
R – Reliability
Strategic Objectives
The main objective of the company is to provide financial services for the customers and generate sustainable income for the shareholders.
Aggar’s Specific objectives are to:
- Provide sustainable quality financial services to active poor both in rural & urban areas
- Encourage self-employment and income generating activities
- Promote rural and urban micro and small business enterprises
- Promote and enhance the culture of savings by the target population and wider public
- Assure financial & operational self-sufficiency of the company.