The short cut path to wealth creation 

By Maireg Genan ( ORDA-Lasta)

Deacon Fisha Zenaw is 30 years old, married and the father of two children. He lives in Kebele 03 special village of” Mehale Deber”. He is the member of Alemtshay Village Saving and Loan Association (VSLG) which he joined in October, 2009. After participating in Plan /ORDA VSL Project, he engaging in different businesses which he managed to make improvements in his livelihood.

The Deacon further stressed that, in 2009 he borrowed 300 Ethiopian Birr (ETB) and bought 36k.g lentils seeded on his farmland and produced 2.5 sacks.  He secured 3,000 ETB and paid back his debt. Currently he has bought 28 corrugated iron sheets in an effort in building his new house.

He said “I accessed a total amount of 900 Birr loan from my group and added 200 Birr from my own to buy an Ox by which I used for agricultural farming for sometime then sold 1600 Birr and earn 500 Birr profit after I paid back my debt.” At the same time he said “I borrowed 1000 ETB and added 500 Birr from my own and I was able to earn a profit of 700 Birr. Using this profit he said “I engaged in goat and Sugarcane selling businesses at Neakutoleab Museum Inauguration Ceremony which I profited 300 Birr.” And then he said after he paid back his debt he managed to buy a pregnant cow at a cost of 2,300 ETB, adding 800 from his own. The pregnant cow with its calf is estimated to cost 6000 ETB at the current market price. 

During the second round in 2011/2012 decon Fesha borrowed 500 ETB to buy 75k.g lentils seed and sowed it on his farmland and produced 5 sacks.  After he paid back his debt, he made profit amounting to 8,000 ETB. He then managed to access tapped water at a cost of 2,573 and collected house construction stone amounting to birr 5,000.

Decon Fesha added that in 2011 he also borrowed 1,400 ETB from the same group to buy Oranges and apricot from merchants.  After I paid back my debt he said I made a profit of 700 ETB.  Besides, he noted “We managed to develop a very good social interaction within the group. As he said the group managed to save 10,961 ETB in cash from this amount of money 644.75 is decon Fesha’s. He promised to work hard to strengthen the Credit & Saving Union.