MFinance
MFinance is a Zambian deposit-taking microfinance institution serving micro, small, and medium entrepreneurs through 17 branches in 9 provinces, offering working capital, payroll-backed, housing, asset, and agricultural loans plus term deposits, mobile banking, and prepaid Visa cards.
- Company typePrivate
- Founded2004
- HeadquartersLusaka, Zambia
- Headcount51–100
- GTM typeB2B and B2C
- OfferingServices
What MFinance does
MFinance (legal name Madison Finance Company Limited) is a Zambian deposit-taking microfinance institution founded in 2004 and headquartered at 318 Independence Avenue, Lusaka. It is regulated by the Bank of Zambia under a deposit-taking microfinance license granted in August 2014, and operates a 17-branch network spanning 9 of Zambia's 10 provinces, with deliberate penetration into peri-urban and rural markets to support financial inclusion. The company is a subsidiary of the indigenous LSA Group (Lawrence Sikutwa and Associates), with co-investors ShoreCap II Limited (25%) and Kibo Fund (25%) alongside Madison Financial Services Plc (50%).
The product platform combines a diversified lending suite (Working Capital tickets of K10,000-K1,000,000 with 7-day turnaround; payroll-backed Personal Loans disbursed within 60 minutes; Short-Term Capital with 30-90 day tenors; Asset Finance; Housing Finance for incremental building; and Agricultural Finance for poultry, piggery, and dairy) with a deposit franchise (Term Deposits from K10,000 with negotiable rates, plus five savings accounts including MFin Business, Savers, Chilimba, Investment, and Pikinini Future). Distribution runs through physical branches, USSD (*318#) and Android mobile banking, internet banking, agency banking, and a Chilimba group lending model. Card rails include a MFinance-UBA Prepaid Visa card for domestic and international transactions.
The business model is a net-interest-margin microfinance franchise: primary revenue is interest income from the loan book, supplemented by the deposit-lending spread on retail and corporate deposits, and minor transactional fees from mobile and agency banking (e.g., K0.74-K0.84 per transaction, free P2P and balance enquiries). Customers are MSME entrepreneurs as the primary segment, with payroll-backed employees, individual homeowners, and agricultural borrowers as secondary segments. Go-to-market is direct-to-consumer through branches and field-based lending officers, supported by digital self-service channels.
MFinance firmographics
Firmographics- Name
- MFinance
- Legal name
- Madison Finance Company Limited
- Website
- https://mfinance.co.zm
- Company type
- Private
- Founded year
- 2004
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- MFinance is a Zambian deposit-taking microfinance institution serving micro, small, and medium entrepreneurs through 17 branches in 9 provinces, offering working capital, payroll-backed, housing, asset, and agricultural loans plus term deposits, mobile banking, and prepaid Visa cards.
- Ownership category
- akta.pro rank
MFinance industry classification
Industry- Product category
- Microfinance Services
- NAICS
- Savings Institutions and Other Depository Credit Intermediation (522180), Credit Intermediation and Related Activities (522)
- SIC
- Short-Term Business Credit Institutions (6153), Personal Credit Institutions (6141)
- akta.pro primary industry
- Microloans & Working Capital Loans (FSAKAGAA)
- akta.pro secondary industries
- Agricultural & Rural Microfinance (FSAKAGAG), Microfinance, Financial Inclusion & Inclusive Markets (BPAGABAM)
Keywords
Where MFinance is headquartered
LocationHeadquarters
- HQ city
- Lusaka
- HQ country
- Zambia
- HQ region
- Africa
Offices12 records
Markets served
MFinance business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Interest Income from Loans: MFinance generates revenue primarily through interest charged on various loan products including working capital, personal loans, housing finance, asset finance, agricultural finance, and short-term capital facilities. Loan products are offered to micro, small and medium entrepreneurs as well as payroll-backed borrowers.
- Deposit Taking: As a deposit-taking microfinance institution regulated by Bank of Zambia, MFinance accepts deposits from corporates and individuals, generating income from the spread between lending rates and deposit interest paid.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Term Deposits - Invest from K10,000 with negotiable interest rates |
| One time/ perpetual license | Monthly | Personal Loans - Payroll-backed loans with quick disbursement |
| Transaction based/ take rate | Pay-as-you-go | Mobile Banking Fees - Transaction-based pricing |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels1 record
MFinance product offering
Product offeringCore offering
MFinance (Madison Finance Company Limited) is a Bank of Zambia-licensed deposit-taking microfinance institution offering a suite of loan products (Working Capital, Personal/Payroll Loans, Short-Term Capital, Asset Finance, Housing Finance, Agric Finance) alongside deposit products (Term Deposits and savings accounts) and digital banking services including USSD/Android mobile banking, internet banking, and a prepaid Visa debit card. Products are delivered through a 17-branch network across 9 of 10 provinces in Zambia targeting micro, small and medium entrepreneurs and payroll-backed borrowers in peri-urban and rural areas.
Product overview
MFinance is a Deposit Taking Financial Institution regulated by the Bank of Zambia, offering a comprehensive suite of financial products and services through a 17-branch network across Zambia. The portfolio centers on loan products (Working Capital, Personal Loans, Short-Term Capital, Asset Finance, Housing Finance, and Agric Finance) complemented by deposit products (Term Deposits and various savings accounts including MFin Business, MFin Savers, MFin Chilimba, MFin Investment, and MFin Pikinini Future accounts). Digital banking services include Mobile Banking accessible via USSD and app, MFinance Debit Card (VISA prepaid), and the traditional Chilimba Group Loans scheme. The Personal Loans division offers payroll-backed products including Business Development, Education, Emergency, Home Improvement, Household Asset loans, and Mid-Month Salary Advances. All products are designed to serve micro, small and medium entrepreneurs as well as payroll-backed customers in peri-urban and rural areas.
Differentiator
Problem solved
Functional benefit
Companies that use MFinance
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles4 records
MFinance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration11 records
Feature2 records
MFinance partnerships and signals
Strategic signalScale indicators2 records
Recent moves6 records
Expansion highlights5 records
MFinance competitors and assessment
Company assessmentMarket position
Competitive moat3 records
Key highlights6 records
Customer concentration
MFinance financial estimates
Financial estimateRevenue estimate
Valuation estimate
MFinance leadership team
Management profileNumber of profiles
MFinance funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MFinance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MFinance
What does MFinance do?
MFinance (Madison Finance Company Limited) is a Bank of Zambia-licensed deposit-taking microfinance institution offering a suite of loan products (Working Capital, Personal/Payroll Loans, Short-Term Capital, Asset Finance, Housing Finance, Agric Finance) alongside deposit products (Term Deposits and savings accounts) and digital banking services including USSD/Android mobile banking, internet banking, and a prepaid Visa debit card. Products are delivered through a 17-branch network across 9 of 10 provinces in Zambia targeting micro, small and medium entrepreneurs and payroll-backed borrowers in peri-urban and rural areas.
Is MFinance a public or private company?
MFinance is a private company. It is classified as corporate owned and is currently operating.
When was MFinance founded?
MFinance was founded in 2004. It employs 51 to 100 people.
Where is MFinance based?
MFinance is headquartered in Lusaka, Zambia, in the Africa region.
How does MFinance make money?
Two revenue lines are on record. Interest Income from Loans are the primary driver. The others are deposit Taking.
Does MFinance have an API?
No public API is recorded for MFinance.
What industry is MFinance in?
MFinance's product category is Microfinance Services. Its primary akta.pro industry code is FSAKAGAA, Microloans & Working Capital Loans, with a secondary code of FSAKAGAG, Agricultural & Rural Microfinance. Its NAICS code is 522180 and its SIC code is 6153.