HomeNewsFBC Bank backs women empowerment

FBC Bank backs women empowerment

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Zimbabwe Women in Trade and Development, a non-profit making Trust (ZWITAD), has received $50 000 from FBC Bank Limited to empower women.

“On the proposition to give women a chance, we want to empower women. Only a woman will go down to uplift other women and only women are faithful to their families,” said ZWITAD national advisor Gertrude Chikwava.

Incorporated in October 2008, the organisation is open to all women in the country.

It seeks to empower women through capacity-building programmes and improving access to loans for income generating projects.

“ZWITAD received an excess of $50 000, from the bank, which has since been disbursed to its members to date. The $50 000 is incremental,” said FBC Bank’s e-commerce division director Agrippa Mugwagwa.

Mugwagwa said: “We expect to disburse more funds, with an improvement in the liquidity of the market at an interest rate of 5% per annum.”

Chikwava said: “Each member got an excess of $1 000 and a minimum of $700, and the members have agreed to clear the loans in two months so that they can quickly access more funding.”

She said the organisation’s membership was in three categories, bronze membership, which comprised members without any business knowledge or training, gold for those with businesses but need financial start-up and platinum comprising business professionals.

ZWITAD would provide resource centres in each province where women would be trained on how to run profitable businesses in their chosen areas.

Currently, the organisation was categorising its membership according to clusters.

ZWITAD national chairperson Shupikai Mubvekeri said: “Women constitute more than half of the population and should make an impact in trade and development as well.

“Women, particularly those in the rural areas, have been marginalised in Zimbabwe and they do not have access to loans to start businesses.”

The organisation currently has over 200 members in eight cities and towns, Harare, Bulawayo, Mutare, Masvingo, Marondera, Gweru, Chinhoyi and Kadoma.

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