Financial literacy is one of the pillars of financial stability. It is important because it equips women with the knowledge and skills required to manage money effectively. Improving financial literacy is a long-term behavioral change initiative. It requires a multi-faceted approach and sustained action over time to bring about gradual improvement.

According to the Senior Economist at the Bankers Association of Zimbabwe Sanderson Abel, improving the financial literacy has a beneficial flow-on effect to the broader economy, increasing levels of enterprising financial behavior and greater participation in financial services and markets. Listed below are institutions which provide financial literacy training for women in Zimbabwe.

angle-left VIRL Financial Services

VIRL Financial Services was established in February 2010 by two women who wanted to make an impact in financial inclusion. VIRL financial inclusion mandate has focused on rural financing, with interest in reaching out to excluded and vulnerable women and youth to businesses which create employment and curb migration.

VIRL operates in Zimbabwe through a network of branches and satellites. The business started with a low capital base but with a big life-changing idea. In order to grow the business, VIRL has worked with development partners working in Zimbabwe rural communities. VIRL collaborated through the introduction of micro credit in their programming. To date,  52% of its loan beneficiaries are women. The organization has reached out to 11,000 women through loans and financial education.

Areas covered

VIRL does not only focus on lending money but social development of communities through financial education, gender focus group discussions, Social Analysis and Action (SAA) trainings through recurring community dialogues to help change the mindsets and norms that hindered social and economic progress in communities.

Financial education trainings offered by VIRL have helped rural communities to appreciate farming as a business and improve their business skills, while ISAL trainings have created a savings culture in the communities and some beneficiaries bought business assets from these savings as a result.

Enrollment procedure (required documents)

‣ Copy of national identification or passport

‣ Proof of residence of the borrower

‣ Recent passport size photograph

‣ Fully completed application form

‣ Bank statements (where applicable)

‣ Any document relating to the business activities such as business records of daily sales and expenses.


Contact information

Viability Intergrity Reliability Long Lasting Relationships
100 L. Takawira, 3rd Floor, South Wing
NOCZIM Building, Harare
Tel: +263242749909/+2638644106340
Email: enquiries@virlmicrofinance.co.zw