A microfinance institution set up by local entrepreneur Ethel Mupambwa and her patner just made it onto Jack Ma’s list of business heroes. Africa’s Business Heroes (ABH), is a competition set up by Alibaba Group co-founder Jack Ma under his African Netpreneur Prize Initiative (ANPI). ABH wants to identify entrepreneurs making an impact in their communities. Africa’s Business Heroes (ABH), is a competition set up by Alibaba Group co-founder Jack Ma under his African Netpreneur Prize Initiative (ANPI). ABH wants to identify entrepreneurs making an impact in their communities and to build an inclusive economy for the future.The 2020 edition had 22 000 applicants from twenty-one countries, half of the applicants were female and in a wide range of fields including, artificial intelligence, e-commerce, health, renewable energy fashion and ICT.
From the pool of applicants ABH has narrowed them down to 50 finalists. Among those finalists is Zimbabwean financial solutions company Money Mart Financing.The Top 10 finalists this year will get a chance to pitch their business in front of business luminaries (Including Jack Ma) and stand chance to win a share of the US$1.5 Million prize pool.What is Money Mart Financing?Money Mart Financing is a micro-finance business that is run by Ethel Chiwara-Mupambwa. They say they have unique solutions and well researched solutions to address the issues such as financial exclusion for entrepreneurs, providing energy to rural areas and in vulnerable communities.Their website says that they have more than 5000 clients, the majority of them being women, they have disbursed loans of over 3 million dollars and have installed solar lighting in more than
Although Ethel Mupambwa grew up in rural Zimbabwe, she always knew what she wanted and that change would come through her. She teamed up with her business partner Wallesa Nyawo to found Moneymart. Their belief in sustainable financial solutions to positively transform lives brought their business to fruition