HARARE – Rise, a non-profit making organisation, will join forces with Zimbabwe Association of Microfinance Institutions (Zamfi) in a bid to build awareness on the social and economic spin-offs from investing in sustainable “green microfinance.”
“Green microfinance encourages eco-friendly micro-enterprises and supporting microfinance clients’ use of renewable energy and environmentally friendly income-generation activities.
“Whilst microfinance clients in Zimbabwe and the world over, continue to be impacted by global climate change and environmental degradation, there is building evidence that women clients and youths in particular can be part of the solution,” said Godfrey Chitambo, Zamfi’s executive director.
“Microfinance institutions must learn about carbon credit aggregation and benefits for the development sector in an effort to address poverty.
“Special focus should be given to women to access green microfinance services and products.”
Hazel Chinake of Rise — an initiative of Elizabeth Edith Foundation whose main thrust is to respond to the needs of women in marginalised communities through social and economic programmes — said that a two-day conference starting today will create a dialogue platform for interested stakeholders.
“This conference will present an important opportunity to raise the public profile of green microfinance whilst exploring innovative mediations for poverty alleviation, capacity building, thereby inspiring the creation of next generation microfinance interventions such as inclusive green microfinance activities,” said Chinake.
She said main conclusions and messages to be drawn from the event shall flow into a declaration paper which will culminate in the formation of a green microfinance network.
“This development will enable stakeholders to contribute towards discussions on the formation of a Green Fund,” said Chinake.