| Buusaa Gonofaa MFI is a microfinance institution in Ethiopia that provides financial services such as savings and loans, mainly to low- and middle-income clients, micro-entrepreneurs, and rural communities. 1.Compulsory (Mandatory) Savings •Required for clients who take loans •A fixed percentage of the loan amount is saved •Acts as collateral/security •Earns interest •Withdrawable after loan completion (according to policy) 2•Voluntary Savings •Open to members and non-borrowers •No fixed deposit requirement •Flexible deposits and withdrawals •Encourages personal saving habits •Earns interest based on balance 3•Time Deposit Savings •Money deposited for a fixed period •Higher interest rate than regular savings •Withdrawal allowed at maturity date •Suitable for clients with surplus funds 4•Group Savings •Members save regularly as a group •Used for internal lending or future investment •Strengthens financial discipline and teamwork |