Our spotlight hero of the month is Dr. Ethel Mupambwa, our 2020 ABH third prize winner and the founder and CEO of MoneyMart, a microfinance institution that has been making significant strides in promoting financial inclusion. The company focuses on offering affordable and accessible credit to small businesses, farmers, and women entrepreneurs who typically have limited access to formal financial institutions. By leveraging technology and innovative financial models, MoneyMart ensures that even the most marginalized communities have the opportunity to access financial support and grow economically.
MoneyMart offers a range of financial services primarily targeted at underserved communities, small businesses, and women entrepreneurs. The services provided by MoneyMart include microloans and small business loans which provide small-scale loans to entrepreneurs and small businesses that typically lack access to traditional banking services. They promote group-based lending and savings schemes that allow clients to pool their resources and access larger loans collectively. They also provide financial education and training to its clients to empower them with the knowledge and skills needed to manage their finances effectively.
A significant part of Dr. Mupambwa’s work involves supporting women entrepreneurs. She believes that financially empowering women can lead to broader economic development and social change. Her passion lies in reducing poverty and fostering sustainable economic development through innovative financial solutions. Under her guidance, MoneyMart has grown rapidly, and positively affected tens of thousands of people across Zimbabwe, helping them achieve financial stability and economic empowerment.
We congratulate Ethel Mupambwa and the entire team at MoneyMart for contributing to financial inclusion in Africa and commend them for their continued impact.
Source: MoneyMart
