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Zambia

UNLOCKING POTENTIAL FOR FUTURE GENERATIONS

VISIONFUND ZAMBIA IMPACTS THE LIVES OF CHILDREN BY PROVIDING POOR BUSINESS OWNERS WITH ACCESS TO FINANCIAL SERVICES. THIS ENABLES THEM TO EXPAND THEIR SMALL BUSINESS AND MEET THE FOOD SECURITY AND EDUCATIONAL NEEDS OF THEIR CHILDREN.

VisionFund Zambia’s services stretch into the rural districts of Zambia that have the highest levels of poverty. This enables the rural poor to maximise their entrepreneurship opportunities and give them a fighting chance to move out of poverty’s entrapment.

Established in 2003, VisionFund Zambia has been providing small business loans to entrepreneurs running micro businesses, which provides greatly needed working capital to increase their business volume and consequently increase the income for their families. By focusing on women, who constitute about 70% of the clientele base, we have been able to complement World Vision’s efforts of improving the lives of the most poverty stricken communities in Zambia.

Working in Zambia

Zambia's economy has experienced strong growth in recent years, with GDP growth from 2005-10 of about 6% per year. Despite economic growth, poverty remains a significant problem in Zambia due to a high birth rate, relatively high HIV/AIDS cases, an overdependence of the economy on copper, and high-income inequality. 

Poverty levels have remained high at 76% for the 61% of Zambians living in rural areas and 53% in the urban areas. In Zambian families, poverty is exhibited through deprivation of a long healthy life, educational opportunities and access to resources.  

The poverty situation is heightened by limited access to financial services as it is estimated that only 34% of the population is financially serviced. This denies many the opportunities that might provide them with a chance to earn a viable income.  With such low level of financial inclusion, the work of VisionFund Zambia is critical.

Awards and Ratings

  • Awarded a Seal of Transparent Pricing by Microfinance Transparency, 2012
  • Rated 3 for Social Performance Management by planet Rating, 2010

Future Innovation

VisionFund Zambia strives to be the leading, and preferred, rural-focused microfinance institution in Zambia. Some of the innovative strategic initiatives being pursued include the following: 

  • Providing financial education and consumer protection
  • Branchless banking through a mobile payment platform
  • Home improvement and education loans
  • Value chain financing

Client Success Story

“After my husband’s death, life was very challenging. We didn’t have food and I did not know how I was going to educate my children.” Loveness reflected sombrely. 

With an initial loan of $100 Loveness’ business has grown over the last three years and she is now able to expand her business further. Loveness can now sufficiently feed her four children and send them to school. 

Management Details

MFI Structure

Nkosilathi Moyo joined VisionFund Zambia as the CEO in April 2009. He has over 14 years experience as a microfinance practitioner, consultant and regulator. Before joining VisionFund Zambia, Nkosilathi was a Bank Examiner with the Reserve Bank of Zimbabwe. 

Nkosilathi is a holder of a Masters in Business Leadership from the University of South Africa, and a Bachelor of Social Science in Psychology from the University of Zimbabwe. The MFI is a wholly owned subsidiary of VisionFund and World Vision, and has a board and management team.

 

 

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