AEMFI which started with four (4) MFIs now has the membership of all the 30 MFIs licensed by the National Bank of Ethiopia under Proclamation Number 40/1996. Prior to the Proclamation, some of the members were government projects/schemes and the others were private NGO programmes.
These were transformed into companies limited by shares to mobilize savings from the public and grant loans to the public under the regulatory supervision of the National Bank of Ethiopia. Since the Proclamation, completely new microfinance companies with no antecedents as NGOs or projects/schemes have been formed and licensed as MFIs and subsequently joined the membership of AEMFI.
The MFIs constitute the Regular Members of AEMFI which exclusively form the General Assembly and are elected to serve on the Board. Currently, There are 34 MFIs which constitute the Regular Membership. There is additionally, provisions for Honorary Membership for entities and persons who make significant contributions and support towards the attainment of AEMFI’s Mission.