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Despite the economic challenges being faced by a number of micro-finance institutions (MFIs) and the failure by others to meet the Reserve Bank of Zimbabwe’s compliance requirements, some have, however, fared well and are proving central to the country’s economic recovery agenda.
Among these successful and well-managed MFIs is Hillthru Enterprises, which has proved to be a reliable moneylender around the country by sustaining a market typically seen as high-risk by major banks.
Key in this market are individuals from the civil service, uniformed forces, the agricultural sector and a range of small business enterprises, among others.
In 2015 the Hillthru demonstrated its mettle and has grown to become the preferred moneylender, thanks to good corporate governance and a strict adherence to the central bank’s regulatory regime.
Originally established in 2001, although it temporarily suspended operations in 2008 at the height of the hyper inflation and only to reopened in 2009, Hillthru Enterprises’ mandate is to issue short-term consumer loans.
Currently it has 18 branches strewn across all corners of the country – Harare, Bulawayo, Mutare, Gweru, Masvingo, Chipinge, Chiredzi, Gutu, Zvishavane, Rusape, Beitbridge, Gwanda, Kwekwe, Gokwe, Marondera, Chimanimani, Lupane and Hwange.
It employs around 41 people in total and remains one of the few MFIs with a headquarters in Masvingo, a clear departure from the conventional trend in which the majority have their headquarters in Harare or Bulawayo.
With a vision to become the leading money lender in the country, Hillthru prides itself in its ability to provide fast and simple loans at affordable and favourable rates.
It has the capacity to cushion clients against unbudgeted for emergency problems, including medical bills, funeral expenses and even school fees as well as meet the costs of farming and mining inputs and equipment.
In 2015 alone, Hillthru Enterprises displayed its innovativeness and as a result went on to win several awards ahead of its competitors in recognition of its service to individual Zimbabweans.
It won first position in Money Lenders at the Rusape/ Makoni Agricultural Show, a Special prize for Outstanding Performance in the Money Lenders category at the Masvingo Agricultural Show and the Best Stand in Small and Medium Enterprises at the Mutare Agricultural Show.
These awards follow its unparalleled success in money lending to ordinary Zimbabweans.
Revelling in its success as demonstrated in the several awards, Hillthru Enterprises chief executive officer Mr Taguma Benjamin Mazarire said the company had grown on the backbone of accountability, responsibility, transparency and reliability, which are some of its core values.
In addition, he said the company is fully in compliance with the Core Client Protection Principles and goes an extra mile to make sure clients are happy and that all regulations are adhered to.
“Hillthru Enterprises is fully in compliance with the Core Client Protection Principles and we actually go an extra mile to make sure our clients are happy and that all the regulations concerning protection of clients are adhered to.
“The strategies we institute in regard to regulations concerning the protection of clients include Fair pricing of loans and transparency in terms of charges, prevention from over indebtedness, maintaining of privacy, as well as fair and respectful treatment,” Mr Mazarire said.
He said some of the benefits of doing business with Hillthru Enterprises include low interest rates on all loan products, prevention from over indebtedness, confidentiality, presence of online facilities and the generally friendly follow ups and engagement with clients from all walks of life.
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