Micro finance Profile

Kalub Microfinance will first operate in Jigjiga city administration of the Somali Regional State by opening other branches in the region and as whole in the country by developing new and more clients need responsive financial products and services to the existing markets. It will open all branches planed for the three years in the major and potential towns of the region and serve the most remote and rural areas of the region by opening satellite service delivery posts depending on the needs of the market.  As much as possible it will concentrate in these major towns in the first three years of its operation. When it’s financial and human resources as well as physical resources are adequate it will slowly move into new geographical areas in the region.

Kalub Microfinance projects reaching about 12,148 borrowers by 2020 from about 2825 borrowers in 2020. The value of its loan portfolio is also projected to grow to over Birr 104 million (USD 7.66 ml.)[1] in 2023, from the loan portfolio of about birr 10 million in 2020.

Voluntary savers are expected to increase to 3,000 clients by the end of year 2023 from 100 clients in 2020.  Likewise Kalub Microfinance total saving is expected to grow to Birr 16 ml. by end of year 2023 from 1.4 ml. in the year 2020. Moreover as per the projection, the Microfinance has a plan to reach both operational sustainability and financial sustainability by the third year of its operation by exploiting all the available resources in the region by collaborating with all development partners working in the region, by minimizing operating costs and using prudent financial management. 

As financial service requires a high level of financial skills, discipline and prudence, Kalub Microfinance (S.C) will recruit trained staff and provide tailored trainings in the area of accounting, internal control and financial management to build its capacity before considering further expansion and opening of new branches in new locations and launching new financial products and services.