The Zimbabwe Miners Federation has applauded the government for the proposed women’s bank and challenged other local financial institutions to introduce tailor-made products for women to ensure financial inclusion.
The first women’s bank in the country is set to be launched next month, according to the government and is set to provide financial assistance to enterprises run by women.
The development has been hailed by women as they will access affordable capital for their businesses.
Zimbabwe Miners Federation President, Mrs Apolinna Munzverengi said women in mining are hopeful that the institution will assist in boosting their operations and has challenged other financial institutions to develop attractive and tailor-made products for women.
In the 2017 monetary policy statement, Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya announced the introduction of a US$15 million revolving women empowerment fund.
The women empowerment fund will be availed at an all-inclusive interest rate of 10% to support projects owned or managed by women.
The government has committed itself to crafting policies and putting in place legal mechanisms aimed at promoting women empowerment.