THE recently launched Zimbabwe Women’s Microfinance Bank (ZWMB) will provide loans to small scale women farmers to help them bolster production.
According to President Emmerson Mnangagwa who officially opened the bank women are the backbone of the agro economy and deserved to be given priority in accessing finance.
“Women in Zimbabwe have distinguished themselves in the last two decades as the country was faced with a myriad of challenges. Sustainable economic development can only be achieved through the participation of everyone and therefore no one should be left behind”.
President Mnangagwa bemoaned the lack of access to finance by most women as less than 10 percent of concessionary loans are extended to them.
The President further implored the Reserve Bank of Zimbabwe (RBZ) to increase the US$10m seed capital injected into ZWMB as it was not sufficient to meet the needs of women in business.
However, the president urged recipients of loans to repay their to ensure viability of the bank.
Among the guests included Vice President Constantine Chiwenga, Minister of Women Sithembiso Nyoni and several senior government officials.