VICE-PRESIDENT WK Mutale-Nalumango has called for enhanced efforts to increase access to financing for women.
Ms Mutale Nalumango said women should also be empowered with resources such as land, to enable them create investments which could secure families, especially in female-headed households.
She was speaking when she launched a Zanaco Bank women’s banking product called ZEE Women’s banking in Lusaka on Thursday.
“I am happy to launch this gender-specific and smart solution aimed to jump-start the social economic transformation for women across the country. This is as it should be because women are the largest group in Zambia’s population and have the potential to create more jobs and wealth for communities,” Ms Mutale-Nalumango said.
She said she was happy that the banking sector was producing more tailored products to meet the financial needs of women and women-led businesses, especially those running small and medium enterprises in urban and rural businesses.
At the same occasion, ZANACO board member Chearyp Sokoni said the product was designed to build the financial capacities of women.
She said one of the incentives under the product was that women could access loans at a reduced rate and without being requested for any collateral when accessing the finances.
Zanaco chief executive officer Mukwandi Chibesakunda said the bank was ready to partner and work closely with the Government in the implementation of social economic programmes to benefit the citizens.