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Mr Msipha replaces Mr Godfrey Jokonya. He was elected at the association’s Annual General Meeting held in Harare recently.
Zamfi executive director Mr Godfrey Chitambo said according to their constitution the new chairperson would serve for a two-year term after which he can be elected for another term.
“We now have a new chairperson, Mr Msipha. We had our AGM two weeks ago and it was during the occasion that a new board was elected,” he said.
Mr Msipha is chief executive officer of Untu Microfinance. He holds an accounting degree and has vast experience in auditing.
Mr Msipha said his board would enhance operations of Zamfi members.
“The new board will over the next two years focus on capacity building in order to reduce risks that affect effective growth and development of microfinance institutions.
“Capacity building will be done through training and conducting workshops for our members,” he said at a stakeholders’ meeting in Bulawayo on Friday.
He said they will work towards the setting up of a credit bureau to reduce the risk of defaulting by potential borrowers in the microfinance services sector.
Mr Msipha said the board would continue engaging regulatory authorities to improve operations of microfinance institutions.
“We will continue talking to our regulatory authorities. Two years ago, they announced that they set aside $15 million for the sector. We need to engage them so that we secure the funding,” he said.
“We are also thinking of the idea of establishing regional chapters for our members because Zamfi is a membership driven body,” he said.
Online Reporter