Amhara Credit and Saving Institution (ACSI)
The Amhara Credit and Saving Institution (ACSI) was established in the Amhara Region, Ethiopia , aiming to feel the gap of formal institutions to meet the need of small-scale borrowers in income generation schemes. Its operation is traced back to 1995 when it was initially initiated by the Organization for the Rehabilitation and Development in Amhara (ORDA), an indigenous NGO engaged in development activities in the Amhara region. 1996 was the year when ACSI had undertaken its pilot activities. ACSI was licensed as a micro finance Institution in April 1997.
Mission, vision, and objectives
The mission of ACSI , which has remained intact over the last ten years, is to improve the economic situation of low income, productive poor people in the Amhara region through increased access to lending and saving services. It will maintain cost effectiveness in service delivery, and integrates its activities with government and NGO's working towards achieving food security and poverty alleviation in the region.
ACSI's vision is …to see a society in which people are free from the grips of abject poverty, with all the power determining their future in their own hands, and its own capacity as an institution well developed to provide best services for all in need in a sustainable manner.
The objectives of ACSI are :
Promoting agricultural and non-agricultural economic activities;
Alleviating poverty and stimulating the region's economic growth, giving priority to rural and remote communities, particularly women;
Significantly increasing clients' income and asset position; and
Promoting sustainable financial services, both operational and financial.