Securing Human Capital

Microfinance  Industry  Pension  Fund

Membership Benefits

  • As a member of the Microfinance Industry Pension Fund you will have access to several benefits not only for yourself but for your family as a whole. 
  • Post- retirement benefit (1/3 lump sum payout and monthly pension payment thereafter perpetually). Premature death benefits (paying out 24 months pensionable salary Group Life Assurance).
  •   Disability benefit (similar to early retirement pension benefit). 
  • The Fund continues to employ the power of numbers to negotiate short term insurance offerings at more affordable group rates such as family medical aid and funeral assurance with all leading Medical providers and all leading Funeral assurers.
  •  The Fund is licensed to make property and with that in mind the Fund has worked on discussing housing mortgage loans with its bankers to enable MFI employees to access housing loans at affordable rates from a resolving Fund that the Fund will invest into.

 The fund has also devised benefits for MFI"s:          

  Removal of moral, financial hazard to company of employee death through premature death benefit (24 months pensionable salary Group Life     Assurance).

The Fund has negotiated affordable group rates for key MFI business insurance such as Credit default insurance, Borrower Life Insurance& medical Aid.                     

The Fund is investing into the Zimbabwe Microfinance Wholesale Finance Facility from which all MFIS can access capital for their operations. The Fund investment has a bias towards regional lending and targets growing MFI’s.

The Fund is formally registered with the Insurance and Pensions Commission with registration number 185.

 The Fund was issued with registration certificate in July 2014 with effective registration from February 2014.

The Fund is beneficially owned and belongs to its individual members in its entirety is a highly regulated savings structure to encourage sectoral based group savings and related investment.


  • The Fund seeks to make the MFI sector a “competitive employer”.
  •   The Fund seeks to reinvest significant funds into the MFI sector to enable MFIs to benefit from these pooled savings at concessionary rates.

  • The Fund seeks to overcome the inability of small MFIs

(typically 3 – 5 staff members) to access employment insurance related benefits due to their size.

Board Chair

Mr. Andrew Masuwa is a career banker and a holder of several management qualifications. He has obtained training in credit management, advisory services and treasury management. He holds several qualifications including a Master’s of Science in Finance and Investments from the National University of Science and Technology (NUST) and is also a holder of an MBA from Gloucestershire University (UK). He is an associate member of the Institute of Bankers in Zimbabwe. Mr. Andrew Masuwa has held several management positions over the past years in the Zimbabwean banking industry. At present, he is a manager for Southern Africa for a Pan-African Multilateral Lender. 

 His interests include the development of marginal enterprises and people to endure and lead in the competitive global economic arena.

 Board Trustee. 

  • Mr. G. Chitambo is an influential and important man in the Microfinance Industry throughout the region as has undertaken several assignments locally and in the region delivering numerous papers at high level international microfinance platforms.
  • In Zimbabwe he has played a major role in the development of the Industry.
  • He is a holder of a Bachelor of Business Studies as well as a Master’s in Business Administration, both from the University of Zimbabwe.
  • He has been the ZAMFI Executive Director since 2002 and has had experience in the Microfinance sector for the past 21 years.
  • He is a member of the National Economic Consultative Forum (NECF) as well as a board member for the Small and Medium Enterprises Corporation (SEDCO). 

Board Trustee

  • Advocate T. Sibanda Advocate is a graduate from the University of Zimbabwe where he obtained an LL.B (Hons) Degree.
  • He is a published author of a book entitled “The Atomic Anatomy of The Legal Profession” a text that was published in his final year of study in 2010.
  • He is a member of the Zimbabwe Lawyers for Human Rights, and a member of the Institute of Chartered Secretaries and Administrators of Zimbabwe.
  • He is currently a Senior Associate at Chinawa Law Chambers which he joined in 2013 as an internal Advocate to the team and also sits as a Board Trustee on the MFIPF. 

Board Trustee

  • Mr. A. Mutendera is a Chartered Accountant by profession. He holds a Bachelor’s degree in Accounting Science from the University Of South Africa (UNISA) and also has a post graduate diploma also from the University of South Africa (UNISA). 
  •  He has extensive knowledge in financial accounting, reporting, modelling, analyses and planning.
  • He has past financial experience from Grant Thornton and Camelsa were he worked as an Audit Supervisor and was also an auditor at Deloitte.
  • Mr Mutendera is currently the Corporate Finance Manager at ZIMASCO (Pvt) Limited and sits on the Board of Trustee of the Microfinance Industry Pension Fund. 

Board Trustee

  • Mr. K.B Makamure is a Deloitte trained accountant by profession who holds a Bachelor of Accounting Science Honours (BCOMPT Hons) Degree and a Bachelor of Accounting Science (BCOMPT) Degree from the University of South Africa (UNISA). 
  • Over the past years he has held several Directorship positions in various organizations and companies.
  • Currently he is the Chairman of the New Generation Trust, Chairman of Young Diplomats Zimbabwe, he is also a non-Executive Director of the Uhuru Institute of Management Training Africa and is also the Executive Commercial Director for Connect the World (Pvt limited). He sits as Trustee Board Member of the Fund.