First Mutual Microfinance, a subsidiary of First Mutual Holdings Limited, marked its 5th anniversary with a celebration in Harare, highlighting its impressive growth and contribution to the country’s financial inclusion efforts.
Speaking at the event, First Mutual Microfinance General Manager, Max Ncube announced the institution’s achievement of ranking third among Zimbabwe’s microfinance institutions (MFIs), with a loan portfolio of USD 8 million and a clientele of over 18,000, served through eight branches across key cities, including Harare, Bulawayo, and Mutare.
The institution’s diverse product range includes salary-based loans, agricultural loans, cattle-based SME products, and loans tailored to informal markets.
“Customer convenience is at the heart of our operations,” Ncube said, highlighting the company’s efforts to enhance accessibility with a network of over 150 agents across Zimbabwe, complemented by digital platforms like WhatsApp for easier onboarding and service access.
Reflecting on the challenges faced during the first three years, Ncube praised his team’s resilience, innovation, and commitment to uplifting communities.
“Our vision is to become the preferred provider of financial solutions in our chosen communities,” he said.
Guest of honor, Reserve Bank of Zimbabwe’s Deputy Director of Bank Supervision, Susan Kabungaidze, commended the institution’s contribution to financial inclusion, economic growth, and poverty reduction.
“Microfinance institutions play a catalytic role in promoting sustainable use of financial services and inclusive growth,” she said, noting Zimbabwe’s 253 registered MFIs as critical to the country’s economic development.
The celebration marked a milestone in First Mutual Microfinance’s journey, setting the stage for continued innovation and service to the nation’s underserved populations.
