EFC Zambia wins ZIM Award for “The best SME organisation for the year 2013”

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The Microfinance Institution, Entrepreneurial Financial Center (EFC) Zambia won the annual Zambia Institute of Marketing (ZIM) award for Best SME Organisation for 2013.

An independent panel of judges selected EFC for the award based on various criteria amongst which employing marketing approaches to business, marketing campaigns undertaken during the year 2013,growth of markets in terms of business and volumes and growth of revenue. Other aspects included evidence of growth into foreign markets and number of people employed by the organisation.

EFC Zambia is a microfinance institution (MFI) that offers both credit and savings to micro and small entrepreneurs living in urban and peri-urban areas. Compared to traditional microfinance, EFC Zambia targets higher end clientele, with an average outstanding loan of USD 3.400. In 2013, BIO granted a € 1.5 million loan to EFC Zambia aiming at the growth of the micro and small enterprises loan portfolio of EFC.

Read more on BIO’s investment here.