Women’s Bank opens branches in all provinces

WOMEN Affairs, Community, Small and Medium Enterprise Development Minister, Dr Sithembiso Nyoni, says the opening of branches in all the 10 provinces of the country by the Women’s Bank presents a huge opportunity for female entrepreneurs, including rural women.

She was speaking during a Zimbabwe Women’s Microfinance Bank cocktail event held in Bulawayo last week on the sidelines of the just-ended Zimbabwe International Trade fair (ZITF).

Zimbabwe International Trade Fair
The minister said the bank’s vision was to empower all women economically and socially in line with the Government’s drive to foster equitable and inclusive empowerment targeting women, youths and people living with disability.

“The bank now has representation in all the 10 provinces of Zimbabwe. It plays a pivotal role in the inclusion of all women both rural and urban,” said Dr Nyoni.

So far, the minister said the Women’s Bank has surpassed the 100 000 mark for accounts opened with an excess of $400 million in loans disbursed since its official launch by President Mnangagwa in June 2018.

“The bank is here to help clients to realise their dreams and creating the Zimbabwe we want,” said Dr Nyoni.

In her remarks Zimbabwe Women Microfinance Bank board chairperson, Dr Matthews Kunaka, said practical finance solutions are being given to women through the asset loan products with women being able to access machinery they need to run their business projects.

He said women have been also capacitated with financial literacy skills by the bank to enable them to better manage their business.

Dr Matthews Kunaka
“Some women funded by the bank are involved in horticulture and are contributing to food security of the country,” said Dr Kunaka.

“Clients can also access working capital, order financing among other facilities and we ask our stakeholders to assist with market linkages for these women.

“The bank has presence in all provinces and works with agencies and agents throughout the country.”

Meanwhile, women entrepreneurs have hailed the Government for doing its best to capacitate them through financial and non-financial help.

Women Microfinance Bank
Women who exhibited their products under the ministry during ZITF said they have benefited a lot from the women empowerment programmes offered by the ministry.

“I’m one of the women who received financial help from the ministry and that helped me to boost my business, which was not doing well due to shortage of finance,” said Zora Kin Pal founder, Mrs Sarudzai Tafirei.

“I urge all women to give it a try. The ministry cannot go door-to-door looking for people who want empowerment but ladies should do enquiries and find out what is needed for them to get empowerment from the ministry.”

Even without being given financial help, the ministry empowers women through training and facilitating exhibition to market their products, she added. — The Chronicle