MOVE is working with its solution partners, World Vision and PKF to establish a micro financing model emulating the World Vision model of ‘Vision Fund’, a very successful program breaking the poverty cycle in Zambia with an average loan of US$280, over 15,000 clients, and 66% of which are women.
Families in the Western Province are struggling as they don’t have access to financial services, leaving them with limited income and job opportunities, creating uncertain futures.
MOVE Vision Fund was launched in Q2-2022 with a focus on women’s empowerment through football and the families of the Western Province integrating with the Street Business School program currently operating in Mongu, Western Province, Zambia
MOVE Banking Details : BSB 035 213 Account No: 357935
This is a life changing space, microfinance is a range of small-scale financial services – including microcredit, microinsurance, and microsavings – that help the world’s poorest people become financially sustainable. These products are at the core of VisionFund’s work.
Loans
Microcredit is one of the most effective ways Vision Fund empowers families to break the cycle of poverty. By providing a small loan with a competitive interest rate, we can assist our clients with financial options to begin or expand a small business to generate an income. This income can then provide for household needs, such as school fees, medical expenses, and nutritious food. Our clients can then pay back the loan over time. Many of Vision Fund’s clients go on to take larger loans as their businesses expand. This increases their profits and helps them to build new and better lives for their families.
Innovation
New digital platforms are allowing Vision Fund to move from manual processes to streamlining loan approvals and processing, through mobile payments and by collecting data on tablets that link to core banking software. For our women clients, this means less time waiting for loans, and more time invested in developing livelihood opportunities. Access to appropriate technology can be a significant enabler for closing the gender gap in business ventures, and can ensure women’s lives aren’t disrupted by arduous manual processes.
Empowering Women
Women in rural areas in developing countries face unique challenges when it comes to accessing financial products and services. Factors such as unfinished education, early marriage and motherhood, and the demands of family and community support roles can leave women without the same opportunities as men, and without the tools and resources to economically empower themselves and their families.