Yibeltal Tadele, Ethiopia

To expand his business, Yibeltal takes a two-and-a-half-hour trip—on foot.

To make a living, Yibeltal Tadele farms the hectare of land around his home, which is a difficult job due to weather and soil conditions in Ethiopia.  When his ox died over a year ago, Yibeltal could not plow his field.  He was in a bind and needed a solution—since farming this land was his only way of supporting his wife and three young children. He ended up borrowing 800 birr ($90) from Amhara Credit and Savings Institution (ACSI).  Yibeltal combined this loan with some money he had already saved and purchased a new ox for 1,400 birr ($160). With his new ox, Yibeltal has grown maize for his family to eat and black pepper to sell for profit.  He also grows teff—the main ingredient in Ethiopian traditional bread, injira—to feed his family and sell to customers. Yibeltal’s produce sales have yielded enough profit for him to pay off his loan, increase his family’s living standard, purchase fertilizer, and save some money for health emergencies and his oldest daughter’s education.

He recently made the two-and-a-half-hour journey on foot to ACSI to take out his second loan. With it, he will purchase a second ox and grow his farming operation to land he has rented.  “Without the service ACSI provides, we would have to go to [traditional moneylenders] and pay high interest, or rent out our land for minimal income,” Yibeltal said. “It is great to have this opportunity.”