Our Partners
Gasha MFIs had a strong partnershing with different Governmental and Non-governmental Organizations, and Pivate Organizations.
Gasha MFI S.C. history starts with the Savings & Credit groups organized by NGO called Pro Pride
starting 1995 in Addis Ababa, Ethiopia.
This Savings & Credit group organization is changed into a share company with government promulgation
of “Licensing and Supervision of Micro Financing Institutions Proclamation No. 40/1996.
It was established by 762 active clients of the Savings & Credit groups,
more than 85% women. Out of the 762 founding shareholders only one was a non-client;
that is an indigenous NGO called Pro-Pride. The Par Value of Gasha share is Birr 100
(one hundred Birr).
This NGO joined the Company mainly because the Shareholders failed to contribute the
minimum required Birr 200,000 (two hundred thousand Birr) paid up capital.
Each shareholder contributed Birr 100 (one hundred Birr) each- a total of Birr 76,200
(seventy six thousand two hundred Birr) and Pro Pride contributed Birr 123,800
(one hundred twenty three thousand and eight hundred Birr).
Pro Pride also contributed additional money to meet the Birr 800,000 (Eight hundred
thousand Birr) subscribed
capital Pro Pride’s total contribution became Birr 499,200 (four hundred ninety nine
thousand two hundred Birr.
Through the course of time the proclamation is amended several times and 315 founding members withdrew their membership due to death and other reasons. At the same time new members mainly staff and other intellectuals joined the company mainly to meet new paid up capital requirements raised from time to time.
In 2018 - in 14th Shareholders General Assembly- Pro Pride withdrew its membership after having donated its capital in Gasha to its previous Savings & Credit members, who are Gasha MFI S.C. Company Shareholders) free of charge
Today Gasha has 928 Shareholders with Birr 16,596,300 (Sixteen million five hundred ninety six thousand three hundred Birr) paid up capital and Birr 30,000,000 (thirty million Birr) approved capital. The National Bank of Ethiopia wants Gasha to raise its paid up capital to Birr 75,000,000 (seventy five million Birr) within five years. Gasha has designed a strategy how to raise this amount.
Gasha MFIs had a strong partnershing with different Governmental and Non-governmental Organizations, and Pivate Organizations.
Ordinary and Extra-ordinary General Assembly is the governing bodies of the Company. The Ordinary
General Assembly Meeting is held once every year. Whereas the Extra-ordinary General Assembly
Meeting is held when there issues that are defined by the Commercial
Code of the Country that are made mandatory to be approved by Extra-ordinary General Assembly
Current board members of Gasha MFI are drawn from shareholders
and it has five members of whom two are women. The Board was
appointed by the shareholders, the effective owner of the company and is composed of
five members who are shareholders of Gasha. The Board is meant to meet monthly and they
serve a 3-year term, which can be terminated. Today the company is
incorporated with the following shareholders
| Board of Directors | Name | |
|---|---|---|
| Chairperson | Mrs. Lishan Siyume | |
| Member | Dr. Elias Tadesse | |
| Member | Mrs. Nardos Eshetu | |
| Member | Mr Girmachew Jada | |
| Member | Mr Edris Youna |
Gasha is led by a Management Committee composed of ten members.
The Executive Director and Department Heads from the Head Office and
six Branch Managers form Gasha Management Committee One can say that these are the people
who are leading the Company. They set all the necessary standards and have it approved by the
Board when needed. They evaluate performance every quarter and take the necessary measures immediately.
All policy matters are first examined by this body.
| Position | Name | ||
|---|---|---|---|
| CEO | Mr Yabowerk Haile | ||
| Finance Department Director | Mrs. Makeda W/yohannes | ||
| Operations Department Director | Mr Mamo Etea | ||
| Merkato A/Branch Manager | Mr Yematawek Zargew | ||
| Entoto Branch Manager | Mrs. Yedilber Hailu | ||
| Kolfe Gojam Berenda B.Mgr | Mrs Lemlem Mosisa | ||
| Yeka Branch Manager | Ato Gemechu Beriso | ||
| Bishoftu Branch Manager | Mr Kinde Workalemahu | ||
| Adama Branch Manager | Mr Tsegaye Debebe | ||
| Legal Advisor | Mr Worku Kasahun |