Home » Human Rights » U.S $5 Million Set Aside for Women’s Bank

Government has set aside $5 million as seed money for the launch of the Women’s Micro Finance Bank.

This was said by Women’s Affairs, Gender and Community Development Acting Minister Sithembiso Nyoni while addressing a meeting on women’s empowerment held in Harare recently.

“As Government, we are fully cognisant that the economic empowerment of women is a yardstick for gender equality,” she said.

“In this regard, my ministry is facilitating the establishment of a Women’s Micro Finance Bank.

The bank will, among other issues, facilitate access to finance for women’s projects without stringent requirements and will ensure that banking conditions and interest rates promote women’s enterprises.

Minister Nyoni said African women were disaantaged when they wanted to start businesses and that the proposed bank would help cushion them.

“African women, Zimbabwean women included, face a multiplicity of challenges that hinder them from effectively participating in political, economic and social processes,” she said.

“It is anticipated that the establishment of the bank will enable women to easily procure loans from the financial institution.”

Minister Nyoni said her ministry was also facilitating market linkages for women through access to local, regional and international markets to broaden their horizons.

The meeting was attended by senior Government officials and representatives of women from various sectors, including mining, agriculture, trade, education, health, tourism, churches and the physically handicapped.

Source : The Herald