ZIMBABWE ASSOCIATION OF
MICROFINANCE INSTITUITIONS

creating sustainable microfinance


 

Date : 5 December 2018 | Venue : Rainbow | Towers Time : 1830hrs

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1 2018 ZAMFI Awards Nomination Form 1
2 2018 ZAMFI Awards Nomination Form 2-Journalist Category
3 2018 Zamfi National Microfinance Excellence Awards Categories and Criteria

 

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 2018
• The closing date for entries is 12 October 2018 and no entries will be accepted after this deadline
• 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 & SUSTAINABLY 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 and
consumer education 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
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4. ENVIRONMENTALLY FRIENDLY MFI

• The MFI must have introduced at least two products 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.
• Indicators to include:
• The total value of environmentally friendly products
• Percentage of environmentally friendly book to the total loan book
• Impact of products i.e. number of beneficiaries, number of households and beneficiaries
• Green house gas emissions savings
• How climate changes have been mitigated
• Energy imports saved
• Energy access i.e. number of people, particularly in the rural communities
• Innovativeness of products


5. MOST INNOVATIVE USE OF ICT BY AN 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


TO NOTE

Three finalists will be chosen by the adjudicators and on the day of awarding, each MFI should pitch on what
they have done in terms of innovative use of ICT. The award will be a people’s choice in that the final winner
and the runner up will be chosen by participants.

6. MOST COMPLIANT MFI (no nominations are necessary)

• 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. EXCEPTIONAL SERVICE TO THE MICROFINANCE SECTOR

• The MFI must be 10 years old in business and being an active member of ZAMFI.
• Must have at least 10 branches and/or agents of which 20% must be rural branches/agents
• Must have played a leading role in the microfinance sector development

8. MOST FINANCIALLY INCLUSIVE DEPOSIT TAKING MFI

• Size of the DTMFI’s balance sheet and growth
• 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


9 MOST CLIENT FOCUSED AND SOCIALLY RESPONSIBLE 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 a loan size of maximum USD672,00
• Must have corporate social investment initiatives (# of sponsorships, donations, etc)
• Must have at least 20% of their branches in rural areas
• Must have no major complaint formally registered with Central Bank for arbitration or intervention.
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10. 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


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


HOW TO PARTICIPATE

Nomination forms can either be downloaded from www.zamfi.org or emailed upon request from
This 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.


Completed nominations can be submitted through the same process


Contact Details - Head Office

9th Floor Causeway Building
Cnr 3rd /Central Avenue
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