Zambia - Technical Assistance Project for Zambia Pulse Financial Services


Project Summary

Approval Date 13 Jul 2009
Signature Date 13 Jul 2009
Planned Completion Date 31 Dec 2014
Last Disbursement Planned Date 31 Dec 2014
Sovereign / Non-Sovereign Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 607,142.86
Status Completion

Project General Description

The Technical Assistance Project forZambia Pulse Financial Services Limited was designed to enhance capacity of a greenfield microfinance bank that offers fully diversified financial services to MSMEs. It consists of financing certain expenditures required for PFSL that would contribute to turn it into a deposit-taking microfinance institution that targets and offers diversified financial products to the low income and the Micro, Small, and Medium Enterprises (MSMEs) on a permanent basis in Zambia. The anticipation is that this would increase access and unmet demand of low income to specialised formal financial services, help advance the largely underdeveloped microfinance sector, and hence contribute to MSMEs development, generation of employment and incomes, and improvements in the living conditions of the communities PFSL Zambia would serve. The grant will be used for particularly in the categories of staff training, lending methodologies, savings mobilisation, and annual external audit.

Project Objectives

The key project objective is to create a self-sustaining Greenfield microfinance bank that targets and offers full-diversified financial services along the industry’s best practice, to low income and Micro, Small, and Medium Enterprises (MSMEs) on a permanent basis.

Beneficiaries

The direct target beneficiaries of the FAPA grant are PFSL of Zambia and its staff and management. The end beneficiaries are the PFSL clientele who included the MSME business developers, entrepreneurs, and the low income.

Participating Organization

Funding
Fund for African Private Sector Assistance
Implementing
PULSE Financial Services Limited

Information

IATI identifier 46002-P-ZM-HB0-002
Last Update 31 Oct 2019

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Contact Details

Email fapa@afdb.org

Geographic Location

Country Zambia