Zambia Postal Services (Zampost), the national postal service of Zambia, has registered a new microfinance institution (MFI) to be named Zampost Microfinance Company Limited. The company is expected to begin operating later in 2012, once it has obtained an operational license from the Bank of Zambia. Francis Mumba, manager of Zampost public relations and corporate affairs, reportedly said that Zampost Microfinance Company Limited will provide Zambian citizens the opportunity to borrow at a “reasonable rate,” expanding access in many towns. Zampost has 119 post offices, 46 sub post offices, and 58 postal agencies as of 2012.
By Brett Cohen, Research Associate
About the Reserve Bank of Zambia
The Reserve Bank of Zambia regulates commercial banks, microfinance institutions (MFIs) and credit unions in the country. Microfinance regulations were passed in January 2006 that require all MFIs to apply for a license under Microfinance Regulations Article 50.
Sources and Additional Resources
Zambia Daily Mail story: “Zampost registers micro-finance”
http://www.daily-mail.co.zm/?p=7290
Zampost Post Office Directory
http://www.zampost.com.zm/index.php?option=com_content&task=view&id=44&Itemid=61
MicroCapital.org story, March 1, 2012, “MICROCAPITAL BRIEF: Mobile Transactions International of Zambia Receives $3.2m Equity Investment from Omidyar Network, ACCION”
https://www.microcapital.org/microcapital-brief-mobile-transactions-inter…
MicroCapital.org story, December 12, 2010: “MICROCAPITAL BRIEF: Azerbaijan’s Postal Operator to Offer Microcredit Starting in 2011”
https://www.microcapital.org/microcapital-brief-azerbaijan%E2%80%99s-postal-operator-to-offer-microcredit-starting-in-2011/
MicroCapital Universe Profile: Reserve Bank of Zambia
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Res…
Browse the MicroCapital Universe and add your entry to the wiki at:
https://www.microcapital.org/microfinanceuniverse/
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