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Microfinace Institution

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Submitted By varaidzo
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CHAPTER 1
INTRODUCTION
Background history
Nissi Global is a microfinance institution with its head offices located in Bulawayo at corner 11th Ave & George Silundika. His Honour, Mr Phiri (MBA Oxford Brooks), is one of the founding Directors who is still active and steering the institution to date. Nissi Global has successfully provided financial services to enterprises and individuals for more than 18 years. Supported by a number of developmental funders, Nissi has traceable operations.

Nissi was established in 1996 as a private limited company and later in June 1999 was converted to a public limited company incorporated under the Company’s Act (Chapter 21:03) of the laws of Zimbabwe at the request of funders, particularly the Microstart and Social Dimension Micro Enterprise Programme and Hivos-a Netherlands donor. Nissi’s Senior Management together with a determined Board of Directors led the start-up and expansion of this profitable donor funded project which grew from one branch to twenty-three branches nationwide during the pre-dollarization era. Nissi global has now expanded its product range to include foreign exchange, Pay Day Loans, Business Loans, Housing Microfinance, Stop order loans and also running agencies such as Ecocash and CBZ.
Nissi Global as a microfinance company has set its standards to operate as efficient as banks or better. It has the aspirations of becoming a macro- finance company than micro as it is. It fosters a culture of professionalism and good customer care. It operates from Monday to Friday, 8am to 5pm then Saturdays 8am to 1pm.
Due to the prevailing tough economical conditions since the 2007-2008 economic downturn, the company managed to survive though with lesser luggage in the boat. The operations have reduced as well as the number of branches nationwide to four. As most companies have even gone down to closure due to harsh

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