FINANCIAL SERVICES

MFIs mull forex lending

THE Zimbabwe Association of Microfinance Institutions (Zamfi) is considering foreign currency lending to assist producers in securing critical imports based on the anticipated effectiveness of the int...

By Staff reporter | Published: 13 June 2019
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OPINION

Zimbabwe MFIs seek exemption from 2% money transfer tax

Microfinance institutions (MFI) play a key role in providing financial services to the unbanked population of Zimbabwe. Zimbabwe has a fairly vibrant MFI sector and Parliament is currently tasked with...

By Staff reporter | Published: 28 April 2019
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BUSINESS NEWS

MFIs lending skewed towards consumption

MICROFINANCE institutions (MFIs) lent $50,5 million for consumptive purposes in the nine months to September, representing a third of the industry's loans in issue.Zimbabwe has a thriving MFI sector, ...

By Staff reporter | Published: 19 December 2018
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FINANCIAL SERVICES

MFIs post $9,8m profit despite tough economic environment

DESPITE the tough economic environment, credit microfinance institutions (MFIs) posted $9,8 million profit in the first nine months of 2018 on the back of increased demand for micro loans by individua...

By Staff reporter | Published: 21 November 2018
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FINANCIAL SERVICES

MFIs non-performing loans decline

MICRO Finance Institutions (MFIs) in Manicaland have registered a reduction in the rate of non-performing loans due to tighter lending methods implemented by the sector following the reduction of inte...

By Staff reporter | Published: 19 October 2017
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FINANCIAL SERVICES

RBZ transforms MFIs in financial inclusion thrust

Microfinance institutions (MFIs) are being transformed to aid financial inclusion taking on-board the marginalised groups, Reserve Bank of Zimbabwe (RBZ) deputy governor Jesimen Chipika has said.Speak...

By Staff reporter | Published: 08 September 2017
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FINANCIAL SERVICES

MFIs defy RBZ interest rates directive

THE Reserve Bank of Zimbabwe (RBZ) says it will take action against microfinance institutions that continue to charge lending rates above 10 percent per month.In February, the monetary authority issue...

By Staff reporter | Published: 07 August 2017
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