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VISIONFUND ZAMBIA PRESS RELEASE

VisionFund Zambia Contact:

Nkosilathi Moyo

Chief Executive Officer VisionFund Zambia

+260 211 225146

Nkosilathi_Moyo@

FSD Zambia Contact:

Joanna Ledgerwood

Director FSD Zambia

+260 211 848 065/6

JLedgerwood@

FOR IMMEDIATE RELEASE

VISIONFUND ZAMBIA PARTNERS WITH FINANCIAL SECTOR DEEPENING ZAMBIA FOR FI2020 WEEK

LUSAKA, LONDON – 2 November 2015 - VisionFund Zambia (VFZ), part of VisionFund International’s network of more than thirty microfinance institutions, is partnering with Financial Sector Deepening Zambia (FSDZ), a DFID-funded organization tasked with increasing financial inclusion, to host an event as part of the FI2020 Week on 4 November, 2015. The event will focus on the promotion of financial inclusion by leveraging savings groups and microfinance institutions.

FI2020 Week is organised by the Center for Financial Inclusion and takes place worldwide from 2 to 6 November 2015. The initiative provides the opportunity for a week of global conversation to explore the vital steps required in order to advance full financial inclusion.

Speakers at the Zambia event include Ms Joanna Ledgerwood from FSDZ, Mr. Nkosilathi Moyo, Chief Executive Officer for VFZ and Sister Mambwe, Development Coordinator, Catholic Diocese of Ndola.

Mr. Moyo, whose presentation will focus on the importance of financial inclusion for the rural poor, enthuses, “We’re delighted to engage and share in ways we can work together to increase access to financial services – in particular for those living in rural areas. With around 60% of VisionFund Zambia’s 25,000 clients living in remote areas, we understand the challenges these people face in trying to access services such as credit and insurance in order to build their businesses and improve their families’ livelihoods.”

Working in many of the same communities as parent organization World Vision, VisionFund’s microfinance offering provides the next level of financial access to those graduating from World Vision’s savings groups.

Mr. Scott Brown, VisionFund International’s President and Chief Executive Officer, explains, “There is a critical link between savings groups and the provision of microfinance services. World Vision has hundreds of thousands of savers in savings groups around the world. The savers receive training and learn how to manage money. Those participants that are ready and able can then progress to take advantage of VisionFund’s microfinance services where they may take out an individual loan to start or grow a business to better support their family.

“We endorse FI2020 and are pleased to play a part in focusing attention on this important global issue. Core to VisionFund’s strategic aim of bringing brighter futures to nine million children each year by 2019, is our focus on providing resources that empower families to create incomes and jobs in rural communities that would otherwise remain excluded,” continued Mr. Brown.

Financial Sector Deepening Zambia (FSDZ) believes that Savings Groups (SGs) are an efficient and effective means to substantively increase the number of households accessing financial services. Community-based financial services are a critical focus for FSDZ to expand financial inclusion amongst rural populations. Savings Groups meet the financial needs of those too poor for banks or living in areas too remote to easily access formal financial services. FSDZ aims to significantly increase the scale, quality and efficiency of SG mobilisation and training in Zambia by building stakeholder capacity and the uptake of good practices. FSDZ also supports enhanced efficiency and quality of Savings Groups through technology such as e-recording and critical message videos. FSDZ is also considering building a core of local Master Trainers who will train community-based agents to form SGs on a fee-for-service basis.

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Notes to Editors

About Financial Sector Deepening Zambia

Financial Sector Deepening Zambia (FSDZ) was established in 2013 by the UK’s Department for International Development (DFID) with the mandate to increase financial inclusion in Zambia. FSDZ aims to support public and private sector efforts to develop an efficient and vibrant financial sector offering a wide range of financial services through diverse channels to individuals, households and micro, small and medium enterprises. FSDZ provides temporary and catalytic support to key stakeholders with the ultimate goal to support the development of a financial market system that works better for lower income communities.



About VisionFund

For over 10 years, World Vision’s microfinance partner, VisionFund, has been improving the lives of children in the developing world by offering small loans and other financial services to families living in poverty. Its clients are able to develop successful businesses, which enable them to ensure their children grow up healthy and educated.

Last year alone, VisionFund microfinance institutions impacted over 3.5 million children through a network of institutions located in more than 30 countries in Africa, Latin America, Asia, the Middle East and Eastern Europe.

or follow us on twitter @visionfund

About World Vision

World Vision is one of the world’s largest Christian relief, development and advocacy organizations dedicated to working with children, families and communities to overcome poverty and injustice. Spanning over sixty years, its 45,000 staff and volunteers in nearly 100 countries have been committed to improving the lives of children, while working with the world’s most vulnerable people, regardless of religion, race, ethnicity or gender.

or follow us on twitter @worldvision

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