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Wallace Ruvidzo
Herald Reporter
THE National Building Society has launched a microfinance unit, Lenderspark Finance, showing its commitment to economic empowerment of the previously excluded by making financial services more accessible and affordable.
Speaking during the launch last week, NSSA Chairman Dr Emmanuel Fundira said the launch was aimed at driving financial inclusion, fostering access as well as affordability of financial products for all and sundry.
This, he said, was in line with the Second Republic’s National Development Strategy 1 (NDS1).
” It is in this spirit Ladies and Gentlemen that we all join hands and attest to the Vision and Mission of Lenderspark Finance which inter alia commits to providing accessible and affordable financial services to a targeted previously excluded market segment which as we all agree is the engine of economic growth.
“As an Apex Shareholder we together with NBS believe that the microfinance model is indeed a game-changer and is strategic fit, in that it dovetails well with The NSSA -Social Security Mandate, “A Lifelong Promise”.
“Exciting as it is this launch is focus driven and fully embeded towards making a significant contribution on financial performance and economic development in line with NDS1,” he said.
Dr Fundira shared his excitement and full support of NBS’ growth saying it was headed in the right direction.
In his remarks, NBS Chairman Mr Shingai Mutumbwa, whose speech was read on his behalf by board member Mr David Mutemachani said the microfinance institution was set to be a game changer in addressing financial inclusion gaps across the market.
“As NBS we abide by the mantra “we leave no one behind” and financial inclusion is a critical issue that affects millions of people around the world. It is a matter of economic empowerment, social justice, and human dignity.
“At NBS, we are committed to playing a meaningful role in addressing this issue. We believe that NSSA’s support has been instrumental in achieving this goal.
“NBS has been able to develop innovative solutions that make financial services more accessible and affordable to all Zimbabweans,” he said.
He then acknowledged the support of various stakeholders including the Reserve Bank of Zimbabwe (RBZ) and NSSA.
NBS Head of Marketing Ms Mildret Kujinga said the confidence expressed by Zimbabweans had inspired its newest baby.
“The roll out of Lenderspark we owe it to the confidence we have received from the market we serve as NBS and we are immensely grateful with trust we have received as a Bank and Building Society of choice to many Zimbabweans locally and those in Diaspora .
“Our intentions have been clear that daily we wake up to thrive to be leading in delivering financial services and housing and Financial Inclusion to transform livelihoods,” she said.
NBS acting managing director Mr Sifiso Mahlangu said they would promote financial inclusion and economic empowerment through the microfinance institution.
“As NBs, today marked a significant milestone in our journey towards financial inclusion with the launch of our Micro Finance Institution, Lenderspark Finance, a microfinance institution that embodies our strategic pillars of inclusion, innovation, integrity, and intention,” he said.
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