Mekelle/Tel Aviv/Nairobi/Pretoria/London
Horizon SACCO Launched to Expand Financial Access in War Affected Tigray
By Chekole Alemu
A new savings and credit cooperative has been launched in Tigray with the stated aim of restoring household financial capacity after years of conflict, with a particular focus on women led households and economically vulnerable families.
Horizon Savings and Credit Cooperative held its founding conference on December 9, formally establishing the institution at a time when many residents in the region have depleted their savings and face limited access to formal credit.
Information shared during the conference indicated that Horizon SACCO was established to strengthen community resilience by providing accessible, transparent, and inclusive financial services. The cooperative operates under the motto “Building Your Future, Protecting Your Journey,” reflecting its commitment to long term economic recovery and social inclusion.
Horizon announced a range of targeted financial products designed to respond to diverse community needs. These include child savings accounts, home construction savings and credit schemes, transport sector focused financial services, and dedicated savings options for elderly and vulnerable households.
The cooperative also plans to introduce inclusive financial services tailored for women and persons with disabilities, as well as flexible credit and support mechanisms for veterans. According to Horizon, these initiatives are intended to promote income generation and small scale enterprise development, particularly among groups most affected by the war.
Job creation for women impacted by the conflict was identified as one of the cooperative’s core objectives. Horizon SACCO also aims to support youth and women in rebuilding livelihoods within their home communities, with the broader goal of reducing economic pressures that contribute to migration to Europe, North America, and other destinations.
As part of its founding initiative, Horizon SACCO announced that it will grant founding membership to 100 women, including women with disabilities and veterans. The cooperative stated that it will cover the full cost of founding membership for these beneficiaries, enabling them to access credit, establish small businesses, and participate in vocational training programs.
According to the high officials of Horizon SACCO,Abrehet Ayele,the selected beneficiaries will be identified by the Tigray Bureau of Women and Children through a democratic selection process.
Horizon SACCO described this approach as a first of its kind within the sector, positioning the cooperative as a financial institution centered on inclusion and post conflict economic recovery in Tigray.
