VisionFund Zambia has been supporting clients since 2003.
Since then, we have grown to serve 15,000 active borrowers and impact 52,000 children and 17,300
jobs.
World Vision originally began its microfinance and
savings programme in 1993, but quickly realised the global need for
microfinance and the immense role it played in reducing poverty. VisionFund International
was then founded in 2003 to manage its network of affiliated microfinance
organisations (MFIs).
Since then, VisionFund International has been lending
money to people in need of financial services, helping them to start or grow
sustainable businesses. Our clients use the income earned to build a better
future for their children, for example, through having clean water, nutritious
food, education and healthcare.
Zambia's economy has experienced strong growth in recent years, with GDP increase from 2005-10 of about 6% per year. Despite economic growth, poverty remains a significant problem in Zambia due to 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 urban areas. Poor people in Zambia live shorter lives, are uneducated and are often denied access to healthcare or financial credit.
It is estimated that only 34% of the population has access to financial services. This denies many the chance to earn a viable income. With such a low level of financial inclusion, the work of VisionFund Zambia is critical.
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 has a Masters in Business Leadership from the University of South Africa, and a Bachelor of Social Science in Psychology from the University of Zimbabwe.
VisionFund Zambia is a wholly owned subsidiary of VisionFund International and World Vision, and has a board and management team.
In 2014, the VisionFund network of microfinance
institutions received over 50 awards and ratings from a collection of external
bodies. We are encouraged that our commitment to excellence and service to our
clients has been acknowledged across the globe.
Please contact VisionFund Zambia for more information about this specific
MFI.
VisionFund’s microfinance institutions are some of the
most awarded in the industry. Here are some highlights from around the entire
VisionFund International organisation.
- Mix Market 5 Diamond Transparency Award for Bolivia,
Bosnia, Cambodia, and Ecuador
- 15 Seal of Transparency Awards for various
MFIs
- 10 Kiva Badge of Anti-Poverty Focus
Awards
- Mix Market Social Performance Platinum Awards
for Azerbaijan, Bosnia, Philippines, and Herzegovina