| 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 |
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.
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.
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.
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Funding
Fund for African Private Sector Assistance
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Implementing
PULSE Financial Services Limited
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| IATI identifier | 46002-P-ZM-HB0-002 |
| Last Update | 21 Jan 2021 |
| fapa@afdb.org |
| Country | Zambia |