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Access to capital for Zimbabwean women entrepreneurs

Although women and youth make up the majority of the population in Zimbabwe, they are largely excluded from financial services.  The Zimbabwe Country Gender Assessment Report 2017  produced by FAO reports that about 86% of women in Zimbabwe depend on land for livelihood and food production for their families. 

The report further states that women continue to receive little financial support, even in sectors where they dominate, such as in the informal economy, micro and small-scale enterprises and agricultural production. Strides have been made for an inclusive financial sector through the introduction of Financial Inclusion Strategy by the Reserve Bank of Zimbabwe. Find information below on where and how to find affordable finance:

 

angle-left Zimbabwe Women’s Microfinance Bank (ZWMB)

Zimbabwe Women’s Microfinance Bank (ZWMB)

About Zimbabwe Women’s Microfinance Bank (ZWMB)  

The Zimbabwe Women’s Microfinance Bank (Women’s Bank) is a registered Microfinance Institution established in 2018 and is licensed by the Reserve Bank of Zimbabwe (RBZ). As a Deposit Taking Financial Institution, the Women’s Bank was launched on 25 June 2018 by  President E D Mnangagwa.

The idea of a women’s bank was first put forward in 1982 by the Ministry of Women Affairs Community, Small and Medium Enterprise Development, as a means by which marginalized women could get access to credit facilities.The Bank is mandated to empower all women economically and socially by providing access to affordable and innovative women-centred financial products and services.

 

Why the Women’s  Bank

  • Women have been financially excluded
  • Women not having access to credit
  • Women are not saving formally
  • Women have limited awareness of investment products
  • Women do not use formal insurance products at all

PRODUCTS AND SERVICES OFFERED BY ZIMBABWE WOMEN MICROFINANCE BANK

A relationship with the bank starts by opening any one of the savings account. Most of the bank's products require proof of address as follows; Zimbabwe Electricity Supply Authority bill, Council bill and Telephone bill. ZWMB also requires a letter from the employer, letter from schools, headmen or chiefs, affidavit signed by the landlord, third party home ownership certificates or a referral letter from a bank as valid proof of residence:

Specific Products Offered

 

Product

Requirements

Personal/salary based loans

 
  • Copy of identity card
  • 2 Passport size photo
  • Proof of residence
  • Initial deposit $10

Micro-Business Loans

 
  • Copy of identity card
  • 2 Passport size photos
  • Proof of residence
  • Initial saving account deposit $10

Group Loans (SACCOS, Churches, Burial Societies, ISALS)

 
  • Constitution
  • Copy of identity card for all directories
  • 2 Passport size photos for all directories
  • Proof of residence for all signatories
  • Initial deposit $50

 

Small to medium enterprises

  • Invoice discounting
  • Order finance
  • Working capital

 

 
  • Company registration documentation
  • Directors resolution
  • Copy of identity card for all directors
  • 2 Passport size photos for all directors
  • Proof of residence for all directors
  • Initial deposit $50

 

 

Contact information

Trust Towers 56-60
Samora Machel Avenue
Harare
Email: info@zwmb.co.zw
Tel:+263 242 796097-104 / 251531/32/36
Toll Free: +263 (242) 79102/ 796104-6/706147/704871 / 25153`-2
Website: www.womensbank.co.zw
Facebook: ZWMB

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