Somali Microfinance Institution (SMFI), Ethiopia’s first provider of sharia-compliant Microfinance services, was founded in January 31, 2011 registered by the National Bank of Ethiopia according to proclamation No. 626/2009, December 2011 started operations. It has been 10 years since SMFI began providing financial services to the poor of the region. The Institution has been giving the services by opining 42 branches. SMFI has made a total amount of disbursement of 1,750,368,171.34 birr to nearly 41,601 clients of which 34,413 are active clients and over 23,227 of whom are poor women and 11,186 are men. The total amount of outstanding loan is 1,800,129,453.27 Birr (as of April 30, 2021).

SMFI's main objective which has remained intact over the last ten years, is to improve the economic situation of low income, productive poor people in the Somali region through increased microfinance products and services to the Informal and Micro, Small & Medium Scale Enterprises (MSME’s) in the urban and rural areas. And will maintain cost effectiveness in service delivery, and integrates its activities its stockholders working towards achieving food security and poverty alleviation in the region.

Its mission is to provide inclusive financial service to the active poor who have no access to conventional banks both in the rural and urban areas as one tool to alleviate poverty and support the poverty reduction effort of the regional state and the country at large.

SMFISC has the vision to be a competent and sustainable Microfinance service provider in Somali regional state and the underserved neighboring regions that addresses the financial service needs of the urban and rural low income people.

Core Values
  • Treating our customers with respect and faith
  • Increasing customers saving habits.
  • Integrating honesty, integrity and business ethics into all aspects of our business functioning.
Our Partners