Financial inclusion in a green environment
Over the last five years, AMZ has increased its operations considerably, with a total of 19 branches added to the network, now covering the entire country. This achievement has seen AMZ evolve as the most significant rural MFI in Zambia, serving over 100,000 clients as of 30th June 2021. With this rapid growth comes the responsibility of ensuring efficiency for long-term operational sustainability.
For many years now, Zambia has been dependent on hydroelectricity as a source of power. Unfortunately, due to erratic rainfall and seasons of drought, which have challenged the water levels in the rivers, coupled with a growing demand for energy due to population increase and high economic activities, the country has experienced many hours of load shedding making hydroelectricity power unreliable. These developments have led to a thrust in most industries and institutions to source alternative energy, mainly in fossil fuels, at the expense of a clean and sustainable environment.
AMZ itself has resorted to using 5KVA generators as a power backup in the branches. These generators running on petrol proved costly and unsustainable as instances of power outages prolonged. Now, AMZ is taking steps to become an environmentally responsible financial institution by implementing an off-grid solar project in all its branches. The Board and Management are pleased with this decision as a double-edged solution that will reduce operating costs and carbon emissions for more efficient operations. In addition, as the organization diversifies its offerings, it is envisaged that AMZ will lease solar kits to promote a green economy. Solar energy has additional benefits, being renewable and unlimited. We recognize that we have a responsibility to ensure environmental sustainability for all living creatures.
Management has installed solar panels in fifteen branches while the rest are planned for the third quarter of the year. These include Choma, Kabwe, Mansa, Chibombo, Mongu, Senanga, Kaoma, Mumbwa, Monze, Kitwe, Solwezi, Ndola, Lusaka, Chongwe, and Head office. Each branch has been issued and installed with one inverter, two batteries, four panels, and 1or 2 change-over switches. With the switchboard automatically operating to
recognize a power outage and immediately switch to solar power, the
operation is smooth and seamless.
Renewable and unlimited
Low operating/maintenance costs, thus yielding higher returns
No CO2 emissions that are not harmful to the environment