Zimbabwe Microfinance Fund – Annual Report 2017
Although the year under review started on a rather apathetic note the later part of the year saw significant political change as can only be described as an End of an Era as far as the history of Zimbabwe is concerned.
By December 2017, ZMF’s cumulative disbursements had reached US$23.9 million serving thirty-one Financial Service Providers. Although the gross loan portfolio grew marginally to US$10.3 million in 2017, the Board is pleased that the company managed to maintain the income earning asset above the US$10 million mark. This coupled with strict cost control enabled us to close the year with a moderate profit of US$448, 935. This has seen the negative retained income receding steadily over the last two years from US$1.2 million to close the year at US$639,583.