RBZ Registers 19 New Microfinance Institutions

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The Reserve Bank of Zimbabwe (RBZ) registered 19 new microfinance institutions between January and June this year, bringing the total number of licensed operators to 194.

Said RBZ in a statement:

This brings the number of institutions authorised to conduct business of providing loans in terms of the Micro-finance Act [Chapter 24:29] to 194 as at 30 June 2018.

The registrar of micro-financiers at the bank indicated that 18 of the new registered firms were from Harare and only Funamel Investments Pvt Limited is from Masvingo. Among those that were registered is State owned Empower Bank Limited, which is the only deposit taking institution while five are credit only micro-finance institutions. These are Taeddy Capital Investments Pvt Limited, Loanstar Pvt Limited, Mula Microfinance Pvt Limited, Premier Service Microfinance Pvt Limited and Gealcs Pvt Limited. The remaining 13 are money lending institutions only.

More: Chronicle

Reserve Bank of ZimbabweEmpower BankMasvingo

The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About Reserve Bank of Zimbabwe

Empower Bank is a state owned deposit taking micro bank in Zimbabwe. The bank was launched in July 2018. The bank was created to provide "social and financial solutions to the financially excluded population with greater focus on the youth". The bank offers loans to... Read More About Empower Bank

Masvingo is one of Zimbabwe's smaller cities which is located on south eastern part of Zimbabwe. It is the capital of the Masvingo Province. The city is known mostly for it's proximity to the Great Zimbabwe Ruins, an ancient city located about 28 kilometers away.... Read More About Masvingo

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