Microcred Zim opens city branch
Microcred Zim city branch at 8 Jason Moyo corner Kaguvi Street.
MICROCRED Zimbabwe (Private) Limited is a Microfinance
Institution registered with Reserve Bank of Zimbabwe. The
Institution commenced operations in 2001 and offers financial services and products to
January 26-February 1 2017
micro, small and medium enterprises (MSME’s). Microcred
Zimbabwe (formerly Microking Finance) has more than 15
years’ experience working with
the unbanked or underserved
MSMEs in Zimbabwe. Having
established a solid track record as one of the leading microfinance institutions in Zimbabwe, the Institution relies on
strong shareholder support,
both technical and financials,
a strong management team
and a complement of dedicated
and passionate staff members. Microcred Zimbabwe currently has a
footprint of 9 branches located in
Harare, Machipisa, Chitungwiza,
Murehwa, Mutare, Masvingo, Bulawayo, Gweru, and Chipinge
The Acquisition of MicroKing
Finance (Private) Limited by Microcred SAS (Microcred) and AfricInvest Financial Sector Fund Limited
(AFS) was concluded and closed
on May 23, 2016. Considering that
the company had lost significant
value, as stated in our press release issued on June 7, 2016, it was
necessary to come up with postacquisition value creation initiatives that enhance operations and
position the company for growth.
MicroKing has thus gone through a
value creation and change process
that was amongst other initiatives,
anchored on a full rebranding program that has seen the Institution
transition to Microcred Zimbabwe. This has resulted in a richer
promise and proposition to informal and SME segments that are in
need of financial support.
Microcred Zimbabwe strongly
adheres to Client Protection Principles. Transparency and provision
of adequate information is key in
Microcred Zimbabwe’s service delivery.
This helps clients make informed financial decisions. Microcred Zimbabwe places high priority on its clients. This is driven by
the understanding that clients
have high aspirations and needs
and these must be met for them to
improve and transform their lives.
Simple, accessible and reliable
solutions is the brand promise
that the market can expect from
Microcred Zimbabwe as it engages
on a journey to help both its existing and future clients to build today for their future.
The unparalleled shareholder
support that Microcred Zimbabwe
receives, is expected to position
the company as a premier and
leading digital finance company
capable of promoting and contributing towards greater financial inclusion.
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January 26-February 1 2017
MICROCRED INAUGURATION SUPPLEMENT
Microcred opens city branch
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Technical capabilities of the
new shareholders coupled with
the skills of Microcred Zimbabwe management and staff
will in no doubt ensure an enhanced and efficient execution
of the unique business model
that better serves and meets
the needs of the market. Microcred Zimbabwe clients and
the market at large stand to
be the biggest beneficiaries of
improved business efficiencies.
The latter should translate into
better customer service experience and increased access to
credit that should guarantee
the growth of its clients businesses
Microcred Group is a digital finance company focusing
on financial inclusion in Africa
and China. Microcred offers
financial services to clients in
emerging markets, particularly
the unbanked and SMEs and
is present in Senegal, Nigeria,
Ivory Coast, Madagascar, Mali,
Tunisia, Zimbabwe, Burkina
Faso and China. The Group is
one of the few global financial
institutions to have succeeded
in deploying a profitable model
for financing micro small to medium enterprises. Microcred’s
shareholders include global financial institutions, leading development funds and international private equity investors.
Microcred Group is dedicated to achieving a specific goal
i.e. increasing access to financial services in Africa. Increasing access to financial services
can be extremely valuable to
improving the livelihood and
development of income-generating activities. Having access to
financial services implies having
a Bank account, which is essential to saving and borrowing
money, being insured and being able to participate in financial activities.
Microcred Zimbabwe places
high priority on its clients. This
is driven by the understanding that clients have high aspirations and needs and these
must be met for them to improve and transform their lives.
Simple, accessible and reliable
solutions is the brand promise that the market can expect
from Microcred Zimbabwe as it
endeavors on a journey to help
both its existing and future clients to build today for their future.
Vision
Our clients are our priority.
Their hopes and needs drive
our work. Our services meet
their needs.
Mission
To improve and transform
our clients’ lives by giving them
access to financial products and
services that meet their needs.
Position
To create a community
where people can build today
for their future. Our clients
become members of this community. We encourage them to
share our values. They help us
define who we are and what we
do, so that our community can
be as extensive and efficient as
possible.
Values
lProximity
lSimplicity
lReliability
lCreativity
lVitality
Branch network
Microcred Zimbabwe be-
lieves in reaching out to the clients, hence our countrywide footprint represented by the following
branches:
lCity branch – Harare
lMachipisa branch - Harare
lChitungwiza
lMutare
lChipinge
lMasvingo
lBulawayo
lGweru
lMurehwa
Our scope
Microcred Zimbabwe only provides business loans exclusively
for developmental or productive
purposes as opposed to consumer
lending. This is in line with the Financial Inclusion Strategy and the
Central banks call for financial institutions to focus more on enterprise
lending and reduce on consumptive lending. Microcred Zimbabwe
subscribes to the Smart Campaign’s
Client Protection Principles, in which
we believe that in everything we do
we put the client first.
Products
Microcred offers working capital
Micro loans and SME loans to the
unbanked or financially excluded
people. Microcred Zimbabwe prides
itself in being fast, simple and providing affordable products that cater for the real needs of its clientele
1. Micro loans –working capital
loans ranging from US$150 – US$10
000
2. SME loans – working capital
loans ranging from $10 001 – US$50
000
Disbursements are done through
transfers into the client’s bank account or transfer to the client’s EcoCash account and Repayments are
made through depositing into Microcred Zimbabwe’s bank account
or through our EcoCash biller code.
About Microcred Group
Microcred ( www.microcredgroup.
com ) is an innovative financial institution, operating in the sectors of
the financial inclusion and fintech,
in Africa and China. Microcred offers financial services accessible
and responsive to the needs of populations of without bank accounts,
in particular the micro- and small
entrepreneurs in eight countries in
Africa and Asia. Microcred operates
in Madagascar, Senegal, Nigeria,
Ivory Coast, Mali, Tunisia, Burkina
Faso and Zimbabwe in Africa and in
China. The group is one of the few
global financial institutions who has
been able to deploy a cost-effective
and on measure model of financing for micro enterprises and SMES.
Microcred was created in 2005 by
Arnaud Ventura and Positive Planet
with the support of institutional investors.
About AfricInvest
AfricInvest (www.africinvest.com)
was founded in 1994 and is today
among the leading private equity
firms in north and sub-Saharan Africa with around US$1 billion of assets under management across 14
PE funds.
These include three Pan-African
investment Funds and a dedicated
financial sector fund which will be
used for the present investment opportunity. AfricInvest is sponsored
by prestigious DFIs, private and institutional investors.
The firm relies on a team of 50
highly skilled investment professionals with over 130 years of cumulative private equity experience,
operating out of six offices in Tunis,
Casablanca, Algiers, Lagos, Abidjan and Nairobi. AfricInvest Group
is the co-founder of the African
Venture Capital Association (www.
avca-africa.org) ) and member of
the Euromed Capital Forum (www.
euromed-capital.com).
January 26-February 1 2017
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MICROCRED INAUGURATION SUPPLEMENT
Microcred Zim board, management
Rueben Dieudonne (Board chairman)
Julius Tichelaar (Board member)
Lloyd Borerwe (Chief exective officer)
Florence Ziumbe (Board member)
Namatirai Mazarakuza (Company secretary)
Jaqueline Musiitwa (Board member)
Isabelle Levard (Board member)
Abdoulaye Gueye (Chief financial 0fficer)
Mamadau Bamba Fall (Chief client officer)
Rosewita Njokoya (Deputy chief client officer)
Thomas Nyika (Audit manager)
Taurai Musakaruka (Human resources manager)
Patience Dongonda (IT manager)