How We Came About
The financial services sector in Zimbabwe has over the past number of years developed in size, sophistication and in the range of products on offer.The financial services sector has been dominated by large commercial banks.These banks provide a wide range of services, including, credit, deposit taking, treasury, trade and finance etc.Their target market for credit has been the large corporates and, in some cases, High Net Worth Individuals. Banks have been reluctant to lend to individuals, especially the working class and those in informal employment, for various reasons including low levels of disposable income, lack of collateral, unreliable credit information and the general poor credit culture. This approach by the large banks has therefore created a financial gap. It is this gap which FMC has been setup to satisfy. FMC intends to bridge the financing gap by lending money to employees of the formal sector and SMEs to meet their short term financial needs.
Get To Know Us
FMC Finance (FMC) is a locally incorporated non-bank financial institution, registered by the Reserve Bank of Zimbabwe to provide consumer loans to employed individuals and approved Small to Medium Enterprises (SMEs).FMC operates a robust ICT platform ensuring fast, accurate and efficient loan issuance and administration.