Project Details
ID: P-ZM-HB0-002 Name: PULSE FINANCIAL SERVICES LIMITED Status: Completed Country: Zambia
Sector: Finance Approval date: 13-juil-2009 Task Manager: ABIBOU Lassissi, PISD2
Total cost: 613341.3
Currency: UAC
Source(s) of financing
FAPA: 613344
Implementing Agency: PULSE FINANCIAL SERVICES LIMITED Location: Lusaka


The AfDB's proposed support to PULSE Financial Services Limited (PFSL) of Zambia consists of the provision of a technical assistance grant program (USD 0.935 million) proposed to be funded through FAPA resources. The TA Program will help the transformation of PFSL into a Greenfield, early stage and growth-oriented microfinance institution, being a deposit-taking microfinance institution that shares the AfDB's microfinance vision and mission objectives.The total project cost is estimated at US$11.55 million of which the total cost of the TA Program is US$ 3.28 million. The AfDB's proposed contribution consists of a FAPA request for a grant contribution of US$ 0.935 million. The latter will be used to co-finance the provision of the TA, particularly in the categories of staff training, lending methodologies, savings mobilization, and annual external audit during the first five years of operations.


The direct beneficiaries of the TA are: (a) a work force of about 227 people that include the management and staff of PFSL. The TA will help in improving the skills and knowledge of PFSL staff in the area of lending methodologies, savings mobilization, product development, information technology, financing and risk management; (b) PFSL Zambia to become a full-fledged deposit-taking microfinance institution; and (c) the PFSL clientele-as the end beneficiaries. They are mainly co mposed of business opportunity developers, MSMEs, and the low income in rural areas as well as in peri-urban and urban environments. Furthermore, PFSL has always been committed to promoting Gender equality and sustainable human development. In mid-2008, of the 3,000 active clients, 60% were women. Gender mainstreaming will remain a key consideration for the new PFSL and addressing Gender dimensions of poverty and gender-based inequalities in Zambia in PFSL operations will contribute to empowering women.