FINCA helps Zambians living in poverty access financial services to improve the quality of life for themselves and their families.
$13.5M LOAN PORTFOLIO
$1,159 AVERAGE LOAN
2 FINCA VENTURES INVESTEES
2001 YEAR FOUNDED
Victoria’s energy and determination combined with FINCA loans allowed her to improve her home, help her younger sister through college and acquire other property that provides her rental income. “I’m a landlord now! Can you imagine?”
Individual Loans Village Banking Loans, Small Group and Solidarity Loans, Small and Medium Enterprise Loans, Savings, Insurance, Energy, Agriculture
In recent years, Zambia has made significant strides to improve its economy. Yet, 60 percent of Zambians still live below the national poverty line. The high incidence of HIV/AIDS, in particular, has devastated families and communities and has left a society dealing with a rising number of AIDS orphans.
Zambia, along with much of sub-Saharan Africa, is on the verge of a crisis. By 2035, the International Monetary Fund estimates the number of Africans joining the working age population will exceed the rest of the world combined. To fill this surge, 18 million new jobs will have to be created each year for the next 20 years across sub-Saharan Africa. In the meantime, Zambians rely on the informal sector for a chance to earn a living. In addition, access to basic services, like energy, water and sanitation, education, health care and agriculture, is often inadequate.
When poor people have access to financial services and life-enhancing products, they can earn more, build their assets, create jobs and cushion themselves against external shocks. Since 2001, FINCA has been helping thousands of Zambians improve their lives. FINCA offers financial services, such as loans, savings and microinsurance throughout the country, and supports access to basic services through FINCA Ventures.
54.4% LIVING BELOW POVERTY LEVEL 2
$4,033 ANNUAL PER CAPITA INCOME 3
54% FINANCIALLY EXCLUDED 4
Plot No. 609 Zambezi Road, Roma
2nd Floor, Suite 201-210, Foxdale Court,
P.O. Box 50061 Ridgeway, Lusaka
+260 966 200 580
1Information is updated on an annual basis
2Poverty headcount ratio at national poverty lines (% of population)
3GDP per capita, PPP (current international $)
4Adult population lacking account at a formal financial institution