Ethel Mupambwa Leverages Tech to Promote Financial Inclusion in Africa

By : Melchior Koba

Date : jeudi, 20 juin 2024 16:25

A finance expert, she leverages technology to create solutions tailored to the financial needs of SMEs and rural populations. Her commitment to combating financial exclusion has earned her numerous awards and distinctions.

Ethel Mupambwa (photo) is the founder and CEO of fintech startup MoneyMart Finance. Born in Zimbabwe, she is driven by the ambition to ensure financial inclusion for all her fellow citizens through her startup.

Founded in 2014, MoneyMart Finance is dedicated to fostering universal positive transformation by providing access to digital financial services. The company offers loans tailored to the activities of informal businesses and small and medium-sized enterprises (SMEs). It also provides micro-insurance solutions for individuals, including funeral financing plans.

MoneyMart Finance tackles various forms of exclusion that contribute to poverty, including energy exclusion. The company is also a distributor of off-grid solar systems, serving families and small businesses needing reliable, sustainable, and clean energy.

Since its inception, MoneyMart Finance has served over 6,000 microenterprises and disbursed more than $5 million in loans. Additionally, it has financed over 1,300 solar systems. Reflecting a development policy focused on empowering women and youth, 70% of its clients are women and 50% are young people.

Ethel Mupambwa serves on the board of directors of the Zimbabwe Association of Microfinance Institutions (ZAMFI). She is also a founding trustee of the Digital Finance Practitioners Association of Zimbabwe (DFPAZ). She holds a bachelor's degree in finance from the National University of Science and Technology of Zimbabwe, earned in 2008. Her professional career began in 2006 as an intern at EY. From 2009 to 2011, she was the financial director of Rockshade Car Rentals and Tours, a luxury car and coach rental service provider.

In 2020, she won the WIA54 (Women in Africa) award in the fintech category and was named among Africa’s Business Heroes. The following year, she was recognized as Businesswoman of the Year by the Zimbabwe National Business & Leadership Awards. The same year, she received an honorary doctorate in human letters from the Women’s Institute of Philanthropy (WIP) and another in business leadership and entrepreneurship from the International Women’s University (IWU).

Melchior Koba


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