Addis Ababa, October 8, 2020 (FBC) – Buusaa Gonofaa, a microfinance institution in Oromia Regional states has been named finalist for the European Microfinance Award worth 118,000 USD.
Muktinath Bikas Bank of Nepal and RENACA-Bénin are also put in the finalist list with Buusaa Gonofaa Microfinance for the Award.
European Microfinance Selection Committee chose the three finalists who will go on to compete for the 118,000 USD on the 30th September and 1st October 2020 for the European Microfinance Award 2020 to be held under the theme “Encouraging Effective & Inclusive Savings”
The three organizations each offer savings products and services that are demand-driven, encourage usage based on a genuine understanding of clients’ needs and behavior, reach under-served populations who need these services the most, and ensure that the savings are accessible, affordable and useful, according to Micro Capital.
The award is aimed to encourage saving activity and ensure easy access in order to provide resilience to millions under poverty.
Up on the European Microfinance Week, final screening of the winner will be held from November 16 through November 20, 2020.
This event will be organized by a Luxembourg-based network with approximately 130 members.