We are thrilled to announce that MicroLoan Foundation in Zambia has been awarded the prestigious 60 Decibels Top Impact Award for its outstanding contributions to financial inclusion and social impact. Winning this award means that we ranked second out of 35 African Financial Service Providers (FSPs) surveyed, across all six categories in the Index: Access, Business Impact, Household Impact, Client Protection, Resilience and Agency. MicroLoan Zambia also ranked fourth in the world out of 114 financial service providers surveyed in the 2023 Microfinance Index – a true testament and celebration of our collective work.
60 Decibels listened to more than 32,000 microfinance clients globally from 114 Financial Service Providers, collectively serving more than 84 million clients in 32 countries. The report findings highlighted that MicroLoan Zambia was a top performer in the following indicators:
The MFI 2023 Top Impact Awards recognise the financial service providers that have demonstrated excellence in supporting communities, fostering financial resilience, and making a real difference in the lives of their clients. This remarkable achievement would not have been possible without the relentless efforts of the MicroLoan Foundation team, the unwavering support of the Board of Directors, and the collaborative spirit with trusted partners, donors, and investors.
The MFI Index is a testament to the extensive scope and reach of MicroLoan Foundation’s initiatives. As the world’s largest financial inclusion index grounded in customer voice, the MFI Index surveyed over 32,000 clients of financial service providers across 32 different countries. This comprehensive study reveals invaluable insights into the link between microfinance and financial resilience, the comparative performance of group loans versus individual loans, and other significant findings.
MicroLoan’s dedication to ensuring that the voices of its clients are heard and incorporated into its strategies has undoubtedly been a driving force behind this recognition. By genuinely listening to the needs and aspirations of those they serve, we have been able to tailor our services effectively and create sustainable, life-changing opportunities for our clients.
Through our microfinance services, we have supported women entrepreneurs to start and expand their businesses, ultimately contributing to local economic development. Moreover, the increased access to financial services has enabled families to secure a better future for themselves and their children.
This award is not only a celebration of our achievements but also a testament to the power of microfinance in driving positive change and promoting financial inclusion.