Genesis Credit Management specializes in collecting bad debt for the multi-family industry. The fourth and the last theme that evolved, was the need to have a firm commitment from the banking sector, relating to the management of risks in all its forms, and the need to have a strong orientation of the credit management policy embedded within the culture of banking.
Similar to other sub Sahara Africa Countries the socio economic situation of Ethiopia is characterized by low growth of income some of the problems are social services, high population growth, economic inefficiency on high unemployment e.t.c. Microfinance is relatively new industry which arose in the early 1980’s after the faller of the government delivery of subsidized credit to poor farmer.
A firm needs digital records, electronic banking, robust internal controls and agile accounting systems for quick reconciliation of bank statements through timely access to bank accounts, customer records; and synchronizing cash flows, accounts payables, and accounting systems for increased efficiency.
As it stands now, the notional value of the credit default swap (a swap designed to transfer the credit exposure of fixed income products between parties) on many established corporate, exceeds the value of trading in the primary debt securities, received from the same corporate.
Professionalism is very important to our firm, which is why, along with being very satisfied with their high rate of recovery for our delinquent accounts, we find UCM (Unik Credit Management)’s approach, recommendations, effectiveness and professionalism in handling these matters to be most appropriate and cost effective to our firm.