Dr. Ethel Mupambwa is the Founder and CEO of MoneyMart Finance (Private) Limited, which she incepted in 2014. She is a Certified Digital Finance Practitioner (CDFP) qualified by Fletcher School at TUFTS University. Ethel holds a BCom (Hons) Degree in Finance, Level 2 CFA student and many certifications in Leadership, Strategy, and Microfinance.
In 2021, The International Institute of Philanthropy, IIP, through its Zimbabwe office and on the recommendation of the board, incorporating the African Institute of Philanthropy, (AIP) and the Women’s Institute of Philanthropy, (WIP) awarded Ethel an Honorary Doctorate of Humane Letters, DHL, and officially be referred to as Dr. Ethel Chiwara Mupambwa, Doctor of Humane Letters, DHL, Honorius, causa. In that instance, she was also conferred with an Honorary Doctor of Business Leadership & Entrepreneurship from the International Women’s University, IWU
Ethel is Zimbabwe’s Country Facilitator of Digital Frontiers Institute and Founding Trustee of Digital Finance Practitioners Association of Zimbabwe. She desires to make sure every Zimbabwean citizen is financially included.
Ethel Mupambwa strongly believes that she has a role in “Sustainable Development Goals” in the fight against poverty, hence MoneyMart Motto: “creating wealth, changing lives” through digital finance.
She has ten years’ experience linking finance to business operations. Seven of them specialize in digital microfinance, focusing more on innovative ways to include women and youths excluded financially. Ethel discovered that Lack of knowledge, understanding, and financial confidence among consumers, combined with the high cost of serving small communities in urban, semi-rural, and rural areas and stringent requirements for documentation and registration by financial institutions, excludes many poor people from financial services. Hence her drive to make sure that African women are financially included.
MoneyMart Finance is a contributor to the promotion of sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all. It significantly contributes to SDGs 1, 3, 5, 7 and 8. From only 3 employees at inception from 2014, MMF now employs over 144 employees in 27 Branches across Zimbabwe. MoneyMart is an equal and fair employment provider with an aim to maintain an equal balance of male and female employees. Currently, of the over 144 employees, 60% are female and 40% are male. The youngest person who joined the team was only 20 years old after completing her Advanced Levels and without a college degree. MMF is a firm believer in investing in the training and development of young people and youths for future managerial posts.
Ethel, through her leadership and vision in MoneyMart Finance has served over 15,000 microentrepreneurs, 74% of them being women. She freely conducts financial literacy programs that will enhance her to empower women and youths in various businesses financially. In so doing, Ethel has positively influenced the creation of more than 30,000 jobs for women and children. Since 2018, Ethel has distributed over 4,500 sustainable, modern, accessible, renewable, and technologically driven by Pay-As-You-Go solar home systems in rural areas tapping into SDG 7; to make sure that the rural child has more time to study, women can charge their phones without extra costs and even increase their working hours. It is one of Ethel’s acts to distribute sanitary wear to rural schools to ensure the girl child is safe and comfortable.
