Starting from selling cakes in salons, Ethel Chiwara went on to eventually found Moneymart Finance, a microfinance startup that recently came out second at Africa’s Business Heroes competition and walked away with prize money of US$ 150 000. Money mart currently has branches in some cities across the country which include Harare, Mutare, and Bindura.
Moneymart was born out of her talking to women and understanding their desires and then started to give out people small loans. Moneymart Finance is a Zimbabwean registered Microfinance institution that understands the needs of informal businesses and is creating wealth and changing lives. It is also contributing to the Sustainable Development Goals (SDG) 1,5,7 and 8 dedicated to fighting poverty, financial exclusion, and energy exclusion. Moneymart Finance is also a proud holder of these awards:
ZAMFI National Microfinance Excellence Awards 2018
1. Runner-Up: Most Women Friendly MFI
2. Runner Up: Fastest and Sustainable Growing MFI
The top three winners were selected from over 22,000 applicants and after several rounds of interviews, pitches & due diligence. African Business Heroes is a philanthropic project of the Jack Ma Foundation, which annually awards 10 African entrepreneurs with a shared $1.5M grant and tells their stories to the world. African Business Heroes is on a mission to strengthen the African entrepreneur ecosystem by identifying, telling the stories of, training, and awarding grant-funding to 100 Africa’s Business Heroes across Africa over the next 10 years.
An online application and review process to determine our Top 50 Finalists.
Each application will be reviewed by two judges.
Round 2: Judges Video Call Interviews
Video-Call interviews with established business leaders who determine our Top 20 Finalists.
In-person pitches with a distinguished and experienced panel of investors, business leaders and professionals to determine our top 10 finalists.
The shortlisted top 10 finalists will need to pass due diligence checks by our partner: Price Waterhouse Coopers (PwC) in order to be confirmed as ANPI 2020 Africa’s Business Heroes and to have their chance to pitch at Africa’s Business Heroes Show.