Question 1

What is Torban Microfinance S.C.?

Accepted Answer

Torban Microfinance S.C. is a microfinance institution operating in Ethiopia, established to provide financial services to underserved communities and small businesses. The institution was founded by 377 shareholders, including private business entrepreneurs, intellectuals, government and non-government civil servants, and various social groups.

As a licensed microfinance institution regulated by the National Bank of Ethiopia, Torban MFI offers savings products, loans, and technical advisory services to individuals, small-to-medium-sized businesses, and associations across Ethiopia.

Question 2

When was Torban Microfinance S.C. founded?

Accepted Answer

Torban Microfinance S.C. received its Business License on January 29, 2024, and obtained its Operational License on June 5, 2024, from the National Bank of Ethiopia. The institution was established with the primary purpose of mobilizing local savings and providing accessible credit to rural and urban communities.

The company also received Trade Registration License and TIN certificates from Addis Ababa city, Lideta Sub city, marking its formal entry into Ethiopia's microfinance sector.

Question 3

Where is Torban Microfinance S.C. headquartered?

Accepted Answer

Torban Microfinance S.C. is headquartered in Addis Ababa, Ethiopia, specifically near Mexico Square in the Lideta Sub city area. The head office serves as the central hub for the institution's operations and administrative functions.

Question 4

Where does Torban Microfinance S.C. operate?

Accepted Answer

Torban MFI operates in multiple regions across Ethiopia, with its headquarters in Addis Ababa. The institution has established three branch offices in the Oromia region, expanding its reach to serve rural and semi-urban communities.

The microfinance institution focuses on serving underserved areas where access to formal financial services is limited, contributing to financial inclusion in Ethiopia.

Question 5

What services does Torban Microfinance S.C. offer?

Accepted Answer

Torban Microfinance S.C. provides a range of financial services designed to meet the needs of its target customers:
• Savings Products: Various savings account options to encourage financial discipline and capital accumulation
• Loan Products: Microloans for individuals, small businesses, and associations
• Technical Advisory Services: Business guidance and financial literacy support for clients

The institution's services target individuals, small-to-medium-sized enterprises, and community associations, with a focus on enabling economic growth and entrepreneurship.

Question 6

What makes Torban Microfinance S.C. unique?

Accepted Answer

Torban MFI distinguishes itself through its community-based ownership structure, with 377 diverse shareholders representing various segments of Ethiopian society. This broad ownership base ensures that the institution remains connected to the needs of its communities.

The institution aspires to be the best financial service provider in Ethiopia, with a mission to make financial lives better by connecting people and resources. As a newly licensed microfinance institution, Torban MFI brings fresh energy to Ethiopia's microfinance sector while adhering to regulatory standards set by the National Bank of Ethiopia.

Question 7

What type of financial institution is Torban Microfinance S.C.?

Accepted Answer

Torban Microfinance S.C. is a Microfinance Institution (MFI) operating under Ethiopia's Proclamation 40/1996, which governs the licensing and supervision of microfinance institutions. The institution is registered as a share company and is regulated by the National Bank of Ethiopia's Microfinance Supervision Division.

Ethiopian MFIs are specialized financial institutions that focus on providing small-scale financial services to low-income individuals, small businesses, and underserved communities. They operate under specific regulatory frameworks distinct from commercial banks, with mandates to promote financial inclusion and poverty reduction.

Torban Microfinance S.C.

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About Torban Microfinance S.C. in Ethiopia

Torban Microf­inance S.C.