SME Finance in Ethiopia : Addressing the Missing Middle Challenge
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Washington, DC
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This study starts with a brief analysis of which firms are the main net job creators in Ethiopia and then focuses on the financing constraints of Ethiopian Micro, Small and Medium Enterprises (MSMEs) as one of the key obstacles to job creation and growth. The study uses two demand-side and an ad-hoc supply side survey administered to 16 financial institutions. This survey allowed collecting data on the actual involvement of financial institutions with MSMEs, their perception of potential public policy approaches to enhance MSME access to finance and the adequateness of their current business models.
The combination of both demand-side and supply-side analysis allows to gain a full picture of MSME finance practices in Ethiopia by connecting information on firm experiences with the reporting of financial institutions on their business practices. While there was already anecdotal evidence that small firms were lacking proper access to finance in Ethiopia, the value added of this study is to provide accurate empirical evidence of the existence of a missing middle phenomenon.
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ACCESS TO CREDIT, ACCESS TO FINANCE, ACCESS TO FINANCIAL SERVICES, ACCOUNT HOLDERS, ACCOUNTING, AFFORDABLE PRICE, AGRICULTURAL SECTOR, ALTERNATIVE SOURCES OF FINANCING, ALTERNATIVE SOURCES OF FUNDING, ASSET PORTFOLIO, AUCTION, AUDITING, AUDITS, BANK ASSETS, BANK BRANCHES, BANK CUSTOMERS, BANKING SECTOR, BANKING SECTOR ASSET, BANKING SERVICES, BANKING SUPERVISION, BANKING SYSTEM, BANKING SYSTEMS, BANKS, BORROWER, BORROWING, BUSINESS ACTIVITIES, BUSINESS ANALYSIS, BUSINESS DEVELOPMENT, BUSINESS MANAGEMENT, BUSINESS STRATEGY, BUSINESS TRANSACTIONS, CAPACITY BUILDING, CAPITAL MARKETS, CASH FLOW, CASH FLOWS, COLLATERAL, COLLATERAL REGIME, COLLATERAL REGISTRY, COLLATERAL REQUIREMENTS, COLLATERAL SYSTEMS, COLLATERALS, COMMERCIAL BANK, COMMERCIAL BANKS, CONTRACT ENFORCEMENT, CREDIT ACCESS, CREDIT ANALYSIS, CREDIT BUREAU, CREDIT BUREAUS, CREDIT CONSTRAINED FIRM, CREDIT CONSTRAINT, CREDIT CONSTRAINTS, CREDIT FACILITIES, CREDIT GUARANTEE, CREDIT INFORMATION, CREDIT INFORMATION SYSTEM, CREDIT INFORMATION SYSTEMS, CREDIT LINES, CREDIT MARKET, CREDIT PROGRAMS, CREDIT PROVISION, CREDIT REGISTRY, CREDIT REPORTING, CREDIT RISK, CREDIT RISK MANAGEMENT, CREDIT SCORING, CREDITOR, CREDITOR RIGHTS, CREDITWORTHINESS, DEBT, DEBT RECOVERY, DEPOSIT, DEPOSIT INSURANCE, DEPOSITS, DEVELOPMENT BANK, DIRECTED CREDIT, DISINTERMEDIATION, DIVERSIFICATION, DOCUMENTATION REQUIREMENTS, ECONOMIC CONTRIBUTION, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, EMPLOYEE, EMPLOYERS, EMPLOYMENT DYNAMICS, EMPLOYMENT GROWTH, EMPLOYMENT OPPORTUNITIES, ENABLING ENVIRONMENT, ENFORCEMENT SYSTEMS, ENTREPRENEURSHIP DEVELOPMENT, EXPENDITURE, EXTERNAL FINANCE, EXTERNAL FINANCING, EXTERNAL SHOCKS, FACTORING, FINANCIAL INSTITUTIONS, FINANCIAL INTERMEDIARIES, FINANCIAL INTERMEDIARY, FINANCIAL INTERMEDIATION, FINANCIAL PRODUCT, FINANCIAL PRODUCTS, FINANCIAL SECTOR REFORM, FINANCIAL SERVICE, FINANCIAL SERVICE ACCESSIBILITY, FINANCIAL SERVICE PROVIDERS, FINANCIAL SERVICES, FINANCIAL SUPPORT, FINANCIAL SYSTEM, FINANCIAL SYSTEMS, FINANCING NEEDS, FLOW OF FUNDS, FRAUD, GOVERNMENT SUPPORT, GROUP GUARANTEES, GROUP LOANS, GUARANTEE SCHEMES, IMMOVABLE ASSETS, INCOME GROUP, INCOME LEVELS, INFLATION, INFORMAL FINANCING, INTEREST RATE, INTEREST RATES, INTERNATIONAL BANK, INVESTMENT DECISIONS, JOB CREATION, LACK OF ACCESS, LACK OF AWARENESS, LACK OF COLLATERAL, LACK OF KNOWLEDGE, LAWS, LEGISLATION, LENDERS, LENDING PORTFOLIO, LINE OF CREDIT, LINES OF CREDIT, LIQUIDATION, LIQUIDITY, LIQUIDITY CONSTRAINTS, LIQUIDITY RISK, LOAN, LOAN AMOUNT, LOAN ANALYSIS, LOAN APPLICATIONS, LOAN APPRAISAL, LOAN DECISIONS, LOAN MATURITY, LOAN PORTFOLIOS, LOAN SIZE, LONG TERM FINANCING, LONG-TERM FINANCE, MACROECONOMIC STABILITY, MATURITIES, MFI, MFIS, MICRO ENTERPRISE, MICRO ENTERPRISES, MICRO FINANCE, MICRO FINANCE INSTITUTION, MICRO FINANCE INSTITUTIONS, MICRO FINANCE SECTOR, MICRO FINANCING, MICRO-ENTERPRISE, MICROENTERPRISES, MICROFINANCE, MICROFINANCE INSTITUTIONS, MICROFINANCE SECTOR, NATIONAL BANK, NET LOSS, OUTREACH, OUTSTANDING DEPOSITS, OUTSTANDING LOANS, OVERDRAFT, OVERDRAFT FACILITY, PARTIAL CREDIT, PAYMENT SERVICES, PERSONAL ASSETS, PRIVATE BANKS, PRIVATE COMMERCIAL BANKS, PRIVATE CREDIT, PRIVATE SECTOR COMMERCIAL BANKS, PRIVATE SECTOR CREDIT, PRODUCTIVITY, PROFITABILITY, PRUDENTIAL REGULATIONS, PUBLIC BANKS, PUBLIC CREDIT, PUBLIC INVESTMENTS, PUBLIC POLICY, REGULATORY FRAMEWORK, REGULATORY FRAMEWORKS, REORGANIZATION, RESERVE REQUIREMENTS, RETURN ON EQUITY, RETURNS, RISK MANAGEMENT, RISK MITIGATION, RISK PROFILES, SALES GROWTH, SAVINGS, SAVINGS ACCOUNT, SMALL BUSINESS, SMALL ENTERPRISE, SMALL ENTERPRISES, SUPERVISORY AUTHORITY, TECHNICAL ASSISTANCE, TRANSACTION, TRANSACTION COSTS, TURNOVER, UNEMPLOYMENT, UNSECURED CREDIT, URBAN AREAS, VALUE OF COLLATERAL, VENTURE CAPITAL, WOMEN ENTREPRENEURSHIP