ETHIOPIA: Catholic Church owned Metemamen Micro Finance Institute extends its wings towards South Ethiopia

ETHIOPIA: Catholic Church owned Metemamen Micro Finance Institute extends its wings towards South Ethiopia

AMECEA NEWS

The Metemamen Micro Finance Institute S.C. has opened its 17th branch office in the Apostolic Vicariate of Soddo, in the capital of Wolayta Zone Soddo town. The office was officially inaugurated on July 3rd, 2017 by Rt. Rev. Tsgaye Keneni, Apostolic Vicar of Soddo in the presence of Zonal and district officials, Ethiopia Catholic Secretariat (ECS) Secretary General Rev. Fr. Hagos Hayish, C.M., and other board members of the institution.

Apostolic Vicar of Soddo Rt. Rev. Tsgaye Keneni, and ECS Secretary General Fr. Hagos cuts the ribbons at the inauguration of Micro Finance Institute in Soddo

Apostolic Vicar of Soddo Rt. Rev. Tsgaye Keneni,
and ECS Secretary General Fr. Hagos cuts the ribbons
at the inauguration of Micro Finance Institute in Soddo

Speaking during the occasion Bishop Tsegaye said that Metemamen is an institution established by the Catholic Church to give an opportunity to people with good entrepreneurial skills and ideas but lack financial capacity to manifest and develop through loans and other financial schemes.

“With Metemamen the Church does not give the society financial donation but an opportunity to the poor to bring their God given talents out onto the table and work with it. Many skills and innovative ideas remain hidden under the carpet because of low financial capacities and because poor people are not able to get loans due to their low financial status; thus the poor are forced to remain poor in spite of being born with the same capacity as any other human being that has been able to grow their ideas into big business,” Bishop Tsegaye said.

He explained that by working together both Metemamen and the people in the Apostolic Vicariate of Soddo can grow tremendously saying “it is only if we take a leap together that we can all benefit from this Micro Finance Institution that was established by the Catholic Church with the intention of bringing the poor on the same level as those with financial capacity, Metemamen will need the support of government offices and other stakeholders in order to reach its goals.”

The Bishop also recalled that Metemamen MF was established by the Catholic Church with the support of CRS while he was still serving as the secretary General of ECS and he is pleased to see it reach this stage and finally come to his Vicariate.

Speaking at the same function Mr. Ufo Bonga, head of Wolayta Zone Finance and Economy Bureau appreciated all the initiatives the Catholic Church is taking in the Zone to ensure integral development of the people. He particularly praised the skills and supports the Church provides to the youth and women in rural areas by encouraging saving and alternative means of income. He said that with the Micro Finance institute he is hopeful that it will also be a good opportunity for his office to ensure sustainability of some of the projects of the government and other organizations.

According to Mrs. Wogayehu Asrat, General Manager of the Micro Finance Institute, the plan is to expand towards the districts to ensure their accessibility to the people in the rural areas. She expressed her hope that all Dioceses, Catholic Church Religious Congregations and Catholic Church Institutions will continue to support Metemanen Micro Finance Institute and help it grow to a level of a bank that works for the development of the people.

End

By Makeda Yohannes

Copyright 2016 - AMECEA Secretariat

Search

Search for Past news

Back to Top