Genet Asefa

A pioneering social entrepreneur who transformed women's economic empowerment in Ethiopia through grassroots financial education.

Genet Asefa (b. 1954) is an Ethiopian social innovator and founder of the Asefa Trust, a non-governmental organization that empowers marginalized women through microfinance and entrepreneurship training. Born in Addis Ababa, Asefa's early life was shaped by her parents' commitment to education and community service. After studying economics in the US, she returned to Ethiopia determined to address systemic poverty.

In 1989, she launched Asefa Trust with a radical approach: instead of traditional loans, she created 'solidarity groups' where women collectively guarantee each other's loans. This model reduced default risks and fostered community accountability. By 2020, the organization had provided over 1.2 million women with access to credit, enabling them to start small businesses like weaving cooperatives and food processing ventures.

Asefa's methodology emphasizes financial literacy training, including sessions on budgeting, savings, and negotiation skills. Her work has been profiled in BBC News and NPR. The Asefa Trust's impact extends beyond economics: 80% of participants report improved family nutrition and increased girls' school enrollment rates.

In 2014, Asefa was awarded the UN Women's Empowerment Award for her scalable model. She continues to advocate for policy changes through her role at the African Microfinance Network, emphasizing the multiplier effect of investing in women entrepreneurs. Her TEDx talk 'Breaking the Chains of Poverty with Women's Empowerment' has become a reference for global development practitioners.