Nduna Foundation (“Nduna”)
The Nduna Foundation (“Nduna”) invested in the Vision of VIRL when the business started operations and has offered support that has been fundamental in VIRL navigating a difficult economic environment, building its capacity as well as its brand. VIRL is still in its growth phase and it is through the Nduna support that it has managed to make inroads in funding for developmental activities for true “micro” enterprises.
The Zimbabwe Microfinance Wholesale Facility (Private) Limited (ZMWF)
The Zimbabwe Microfinance Wholesale Facility (Private) Limited (ZMWF), a financial apex organisation, owned by the Zimbabwe Microfinance Wholesale Trust, was set up in 2010 as a response mechanism by the Zimbabwe Association of Microfinance Institutions (ZAMFI), with strong development support from Hivos, DFID and GIZ to the then debilitating liquidity challenges which were facing microfinance institutions. The major objective of the facility is to wholesale funds to qualifying financial intermediaries in the microfinance sector. This is to facilitate the growth of micro and small scale enterprises (MSEs).
ZMWF’s main mandate is to increase access to financial services for the economically active poor by wholesaling funds and capacity building to qualifying financial intermediaries in the microfinance sector so that they can retail the same to micro and small enterprises (MSEs) in urban and rural areas.
The wholesale facility was earmarked at reducing poverty and creating employment through enabling access to financial services that are responsive to the needs of the population, especially women and the economically active poor in a manner that fosters sustainability and financial inclusion.