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Women are our business – Bank

Women are our business – Bank

By Vimbai Kamoyo

THE Zimbabwe Women’s Microfinance Bank (ZWMB) says it prides itself as it is in a unique position of being a women’s partner.

Speaking at the launch of this year’s SMEs International Expo theme, the bank’s chief executive officer, Mandas Marikana who was represented by her underlining Barbara Muyengwa said the financial institution seeks to sustain the aspirations of women, particularly those in the Small to Medium business sector.

“The Zimbabwe Women’s Microfinance Bank Limited is a registered deposit-taking microfinance institution. It offers financial products and services to all women.

“The bank is mandated to provide access to affordable and innovative women-centred financial products and services. Women can be assisted in their individual capacity, in groups/ clubs/ cooperatives or as micro, small and medium enterprises. As ZWMB, we offer financial solutions to SMEs across all sectors countrywide; in manufacturing, farming, mining, tourism and trade.

She said it was the bank’s obligation to grow businesses and preside over the purchasing of working machinery.

“The bank plays a pivotal role in the migration of micro-enterprises to small and medium enterprises. The bank offers a unique combination of financial products (savings and loan accounts) and non-financial products rooted in the understanding of women-related problems and issues. Our Micro Lease Asset Finance allows SMEs to purchase assets such as machinery, farming implements, equipment for mining and any other assets according to the client’s need.

“SMEs can also access working capital requirements, order financing among other facilities. The bank has partnered with the insurance industry to finance low-cost micro-insurance services,” she said.

The top banker also said the financial institution also offers services other than financial ones.

“Apart from financial services, the bank also offers non-financial services which are meant to assist clients, through financial literacy training, business management training, group capacity-building efforts and providing information on available financial services.

“The bank distributes its products through its branches, fixed agencies and network of agents throughout the country. Thus, we play a critical role in employment creation,” she said.  

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