Aggar Microfinance Institution Share Company holds the distinction of being the first commercial private microfinance institution licensed in Ethiopia. It was licensed on March 18, 2004, in accordance with the 1960 Commercial Code of Ethiopia, the Micro financing Business Proclamation No. 626/2009, and regulations enacted by the National Bank of Ethiopia.
The company officially started operations in April 2004, providing vital loans and savings services. Founded by 443 shareholders with an initial paid-up capital of Birr 4,243,600, Aggar began its journey with just two branches in Addis Ababa. The institution focuses primarily on micro, small, and medium scale enterprises (MSMEs)—frequently referred to as "the missing middle"—and offers attractive interest rates for its depositors.
Vision & Mission
Vision
To become a household name with state-of-the-art practices for inclusive financial services.
Mission
To provide demand-driven financial products with service excellence supported by modern technology.
Our Journey
2004: Establishment
Aggar Microfinance is established and officially starts its operations.2010: Regional Expansion
The institution expands its financial operations across several regions in Ethiopia.2023: Strategic Shift
Implements a brand new Transformation Strategy to modernize practices.2025: Major Milestone
Successfully reaches over 100,000 clients and expands network to 30 branches nationwide.
Geographic Network and Presence
Aggar Microfinance Institution S.C. operates 30 branches distributed across 5 key regions:
- Addis Ababa (11 branches): Addisu Gebeya, Kotebe, Megenaga, Lafto, Kirkos, Mesalemya, Kolfe 18 Mazorya, Ayertena, Furi, Kality, and Ledeta.
- Oromiya Region (9 branches): Alemgena, Woliso, Dukem, Adama, Assela, Batu/Zeway, Sashemene, Jemma, and Furi.
- Central Ethiopia Region (6 branches): Buee, Butajira, Wolkite, Darge, Emdeber, and Hossena.
- Amhara Region (3 branches): Debrebrhan, Debermarekos, and Baherdar.
- Sidama Region (1 branch): Hawasa.
(Note: Giga is also maintained among the specialized branch locations.)
Open Positions at Aggar Micro Finance S.C.