MFI Report

Micro-finance services have been introduced in Sierra Leone by government after peace resolution through various wings of government offices. The government program Social Action for poverty Alleviation (SAPA) initiated the micro finance program through NGO, Community Banks. SAPA provided both loan fund and operating cost to implementing partners. CEDA also worked with SAPA and served 7 Chiefdoms and Bo Town in the District, Southern Province of Sierra Leone.

Community Empowerment and Development Agency (CEDA) was registered as an indigenous nongovernmental organization (NGO) in 1994 at the Ministry of Development and Economic Planning (MODEP), Sierra Leone and commenced micro-credit services in 2002 in Valunia Chiefdom in the Bo District. Initially, it focused on Agricultural Activities, and gender empowerment in Bo and Kenema Districts. The programme was initially Lunia Agriculture and Rural Development project (LARDEP). LARDEP went through restructuring building up its institutional capacity to expand its services to cater for more beneficiaries and communities, meeting the demands of the Ministry of Development and Economic planning for Registration as a National Non-Governmental Organization. LARDEP with the consent of the Board and members was re-named as CEDA. It worked with a government program-Social Action for Poverty Alleviation (SAPA). SAPA supported CEDA to run micro-credit program for rural poor especially Women micro-entrepreneurs. CEDA, as an NGO, received approval from MODEP for micro credit services. CEDA was permitted to provide micro-credit services for its group members and individual clients. By 31st December 2006, it has one branch office with 10 employees serving 741 loan clients. Hide