In 1984, FINCA International co-founder John Hatch came up with idea of helping farmers in Bolivia by providing them with flexible loans that did not require collateral. Unlike traditional loans, John pioneered “village banking”, bringing together 10 -25 Bolivian farmers to share a loan and a mutual guarantee of repayment.
Following the success of village banking in Bolivia, John began a series of international assistance programs to alleviate poverty in low-income and post-conflict countries through the provision of small loans to poor entrepreneurs. This was the beginning of what we know today as microfinance.
Over thirty years later, FINCA Impact Finance (of which FINCA International is the primary shareholder) is a global network of 20 microfinance institutions and banks. With 30 years of experience and over 10,000 local staff, FINCA Impact Finance delivers a double bottom line of social impact and profitability.
FINCA Zambia, a subsidiary of FINCA Impact Finance began its operations in 2001 as a non-profit organization that provided financial services to the ﬁnancially-excluded section of the population. Since launching a single office offering village banking loans in Lusaka, FINCA Zambia has grown into a full-service microfinance institution (MFI) serving more than 17,000 clients with financial services including credit and savings. FINCA Zambia is composed of 14 branches spanning Lusaka, Central, Southern, Eastern and Copperbelt provinces. In 2012, the Bank of Zambia issued FINCA Zambia a license to take deposits.