UnUnpacking The MFIs Code Of Conduct

The microfinance code of conduct is a welcome development to ensure that consumers know their rights so as avoid arbitrary and draconian actions by microfinances which used to be a common feature before the enactment of the Microfinance Act [Chapter 24:30]. The economy of Zimbabwe is hinged on the small to medium enterprises. There has been little left by the conventional banks to assist the players in this space and thumps up to microfinance companies (MFIs) who have occupied the space and now allow for the smooth movement of businesses through microfinancing. It is imperative to have a look at how the government is keen to ensure sanity within the MFIs through the enforcement of the code of conduct which is enshrined in the Act. The Microfinance code of conduct is a supervisory and regulatory tool which is at the disposal of the Reserve Bank of Zimbabwe to ensure discipline and order amongst MFIs.