ZIMBABWE ASSOCIATION OF
MICROFINANCE INSTITUITIONS

creating sustainable microfinance


 

Date : 13 December 2019 | Venue : Rainbow | Towers Time : 1830hrs

Item File Action
1 2019 ZAMFI Awards Nomination Form 1
2 2019 ZAMFI Awards Nomination Form 2-Journalist Category
3 2019 Zamfi National Microfinance Excellence Awards Categories and Criteria
4 2019 Zamfi National Microfinance Excellence Awards Invite

TO NOTE

  • Each MFI can enter as many categories as it desires
  • All entries shall be on the applicable application form
  • No application or participation fee is required
  • The closing date for entries is 15 November 2019 and no entries will be accepted after this deadline

1. JOURNALIST AWARD ON MICROFINANCE

OBJECTIVE
To encourage/invite journalists to contribute objective, informative, educational articles about/on microfinance

ELIGIBILITY

  • Journalists should contribute at least 2 articles which should have been published or broadcasted from January 2019
  • All entries must be in English (or subtitled in English)
  • The size of the nominee’s readership/audience will not be considered in the selection of the winners
  • The judging panel will select only from nominated individuals

2. FASTEST OUTREACH GROWING MFI

  • MFIs must have at least opened two rural branches (agents) and four urban branches (agents)
  • MFI must have increased outreach (clients) by at least 25%. The ZAMFI quarterly returns will be consulted
  • At least 40% of its lending should be into developmental lending
  • Must have achieved a PAR ratio in all quarters below industry average
  • Must have introduced at least 2 sustainable products
  • Must have exhibited sustainable growth for the past 24 months
  • Is the growth ethical i.e. no negative publicity or negative image problems
  • Proof of an R & D budget could be an added advantage

3. MOST WOMEN FRIENDLY MFI

  • Documented policy on women financial inclusion
  • About 80% of its clients are women
  • About 40% of its employees are women
  • About 80% of the total value of loans is to women clients or women owned businesses
  • The MFI services include sustainable non-financial services to women such as financial literacy
  • Consumer education (same as financial literacy above) as part of its financial inclusion thrust towards women
  • Has women friendly/sensitive loan security requirements i.e. non immovable property etc.
  • Documented strategies employed by MFI to target women clients

4. MOST SOCIALLY RESPONSIBLE & ENVIRONMENTALLY FRIENDLY MFI

  • The MFI must have introduced at least one product in renewable energy, smart agriculture
  • They should have initiated environmentally friendly products e.g. did some training on how to use a certain product which is environmentally friendly.
  • Must have identifiable social investment initiatives (# of sponsorships, donations etc)
  • Must have a loan size of maximum RTGS$1500

5. MOST DIGITISED & INNOVATIVE MFI

  • Has the MFI leveraged ICT and digital channels to enhance financial inclusion
  • Has the MFI leveraged ICT and digital channels to reduce costs
  • Has the MFI leveraged ICT and digital channels to promote financial literacy
  • Has the MFI used high digital transactions in terms of disbursement and collection of loans due
  • Any other traceable innovation which the client has initiated in the past 24 months

6. MOST COMPLIANT MFI

  • Timely submission of MFI Returns- (by the 14th of the month following end of Quarter)
  • Timely submission of licence renewal applications, (at least 60 days before expiry of licence)
  • Loan portfolio with over 60% into productive sector
  • Compliance with the Core Client Protection Principles (number of complaints and resolved )
  • Compliance with Circulars to Money-lending institutions, microfinance institutions and deposit-taking microfinance institutions on the effective interest rate charges

7. MOST EXCEPTIONAL CUSTOMER-CENTRIC MFI

  • The MFI must have endorsed the Smart Campaign
  • Must have evidence of upholding Client Protection Principles
  • Must have invested in financial literacy for the benefit of clients (# of events)
  • Must have no major complaint formally registered with Central Bank for arbitration or intervention.
  • Must have at least 10 branches and/or agents of which 20% must be rural branches/agents
  • Must have an active client complaints handling process with traceable results.

8. MOST YOUTH FRIENDLY MFI

  • Must have at least 40% of its portfolio as youth
  • Must have at least 20% of its management under the age of 35 years
  • Must have an accessible youth loan product. (how many loans have been issued out)
  • Must have a youth mentoring programme or special desk
  • Must have been involved in one of the youth empowerment programmes

9. MOST FINANCIALLY STABLE MFI

  • Capital Adequacy (both in terms of minimum capital and capital adequacy ratios)
  • Size of loan portfolio and quality (as measured by PaR which must not be in excess of 10%) – looking at a growing loan portfolio and of good quality:
  • Sustainability (Operational Self-Sufficiency of not less than 100%)
  • Number of savings accounts- growing number is positive
  • Number of borrowers or clients – increasing trend represents increased outreach and is positive

MOST CLIENT FOCUSED AND SOCIALLY RESPONSIBLE MFI

  • At least 40% of branches and outlets delivery channels to be in rural areas
  • 30% or more of clients in rural areas
  • 20% of loan book should in rural agriculture (to exclude urban or semi urban)
  • Agriculture impact should be evident eg productivity, financially
  • Other innovative products like fish farming etc will be an added advantage

WINNERS

Each category will have a runner up so there will be 20 winners

FINAL

The judges’ decision is final and no further communication for whatever reason will be entertained

CRITICALLY NOTE

  •  Nomination forms can either be downloaded from www.zamfi.org or emailed upon request fromThis email address is being protected from spambots. You need JavaScript enabled to view it.or alternatively This email address is being protected from spambots. You need JavaScript enabled to view it.You can also get in touch with us on 0242 702146/7 or 0242 702173
  • In filling nomination forms, kindly consult the criteria for the category you are competing in. This is critical
  • Completed nominations can be submitted through the same process
  • You can either nominate yourself or you can be nominated by someone. From 2020 we will move away from self nomination
  • Those who submit quarterly information to ZAMFI stand an advantage as verification modes are in place. Kindly start submitting information
  • ONLY ZAMFI MEMBERS IN GOOD STANDING ARE ELIGIBLE FOR THIS COMPETITION
  • Non members and other stakeholders are however invited to the event.
  • Award number 6 is not available for self nomination

Please download the nomination form on www.zamfi.org and return the completed form to the following:

  • Tinashe Pamacheche
  • Cell: +263 715 868 595 Tel: +263 24 2702 146/7
  • Email: This email address is being protected from spambots. You need JavaScript enabled to view it./ This email address is being protected from spambots. You need JavaScript enabled to view it.
  • Address: 74 Rhodesville Avenue, Greendale, Harare

NB You may nominate multiple institutions for multiple categories, but must write separate emails for each. Submissions must be received by end of day of Friday 15 November 2019.

Late submissions will not be entertained.

 


Contact Details - Head Office

74 Rhodesville Ave
Greendale
Harare, Zimbabwe
Landline: +263 24 2702 146/7 or 2702173
Email: info@zamfi.org

Bulawayo

Mimosa Building(Opposite Bulawayo Centre)
Room 4, 3rd floor, 9th Avenue/J.M Nkomo Street, Bulawayo
Tel: +263 9 67485
Email: info@zamfi.org