Empowering Rural Lives: The Positive Footprint of Agora Microfinance Zambia
A recent survey unveils the remarkable impact of Agora Microfinance Zambia (AMZ) on the rural communities of Zambia.
A Noteworthy Recognition for AMZ Agora Microfinance Zambia (AMZ) has achieved an impressive ranking, securing a position in the top 10 Financial Service Providers in Africa, as per a comprehensive survey conducted by 60 Decibels. Positioned 6th among 36 providers, this accolade signifies AMZ's relentless pursuit of adding value to the livelihoods of its esteemed clients. Susan Chibanga, AMZ's CEO, commented, “Our principal mission, beyond organizational sustainability, is the economic well-being of our clients. It is heartwarming to see our efforts being recognized in the broader African context.”
Decoding AMZ's Impact on its Clientele The survey provides in-depth insights into AMZ's clientele, delineating the transformative effect of financial inclusion. Here are the key takeaways:
1. Profile and Access: Bridging Financial Gaps
· AMZ predominantly serves resilient women, with the average client being a 43-year-old residing in a rural household of six.
· 67% of AMZ's clients live on less than $3.2 daily, which is below the national average of 75%, emphasizing AMZ’s outreach to vulnerable segments.
· The majority of clients use AMZ loans for inventory acquisition, agricultural supplies, and livestock, underscoring AMZ's foundational role in rural economic upliftment.
2. Business Impact: Catalysing Entrepreneurship
· AMZ’s influence is tangible, with 93% of its clients reporting increased income and 11% witnessing growth in employment due to the organization's support.
3. Household Impact: Elevating Lives Holistically
· The loans provided by AMZ have a multi-dimensional impact, with clients affirming enhancements in household essentials, business investments, and overall income.
· A gender analysis indicates a higher proclivity among male clients for home improvements.
4. Client Protections: Empowering Informed Choices
· AMZ champions transparency and financial literacy, enabling clients to make well-informed financial decisions.
5. Resilience: Fortifying Against Shocks
· AMZ's support enhances the resilience of its clients against financial downturns, evident in the improved financial preparedness reported by a majority of its clientele.
6. Agency: Empowering Choices and Confidence
· AMZ's positive influence extends beyond financials, with clients crediting the organization for amplifying their goal attainment and boosting their self- confidence.
The Loyalty Index: Clientele's Vote of Confidence With a commendable Net Promoter Score (NPS) of 70, AMZ reflects high client satisfaction. While most appreciate the organization's favorable terms, a minority does express the need for enhanced customer service.
In Summary: Illuminating Pathways to Prosperity The 60 Decibels survey is a testament to AMZ's unwavering dedication to Zambia's unbanked and marginalized communities. From enhancing financial access to fostering entrepreneurship and holistic well-being, AMZ emerges as a contributor to positive economic transformation. The organization's commitment to empowering individuals to achieve their dreams paints a promising picture for Zambia's rural communities, lighting the road to an equitable future.