Today marked the opening of Zimbabwe’s first women’s bank, Zimbabwe Women Micro-finance Bank (ZWMB) which is mandated to give women increased access to finance at befitting terms. Zimbabwean women are said to be unsatisfied with the current bank services because banks are developing products that don’t resonate with female consumers. Hence bringing in a financial institution that pays attention to women’s requirements was imperative.
ZWMB will facilitate women entrepreneurship, self-employment and creating job opportunities. Bringing Zimbabwe a step closer to achieving the UN’s eighth Sustainable Development Goal (SDG ) of promoting sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all, especially the ladies.
Getting down to business
ZWMB showed no qualms in starting to serve its customers. This was denoted by the immediate roll out of loans at the launch event. Surprisingly, OneMoney, will be the preferred channel for disbursing various types of ZWMB’s loans as these loans were released via the mobile money wallet.
Netone which is playing catch up in the mobile money business is perhaps trying to increase the traction of OneMoney by collaborating with ZWMB. The partnerships which OneMoney money is currently involved in has seen the mobile money platform reaching a million subscribers. Perhaps this new collaboration will propel it to new heights.
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6 comments
One corrupt big mistake to start with already. This is auto Zanu bank and is starting by forcing everyone to be Zanu member.
NetOne is not the biggest and we now its not growing, its a network for the boys and girls. Now this will be a bank for the girls, and big boys as always.
We know Econet leads the pack when it comes to mobile money, yet the bank is carrying the hatrage and peraonal grudges of government shown to Econet.
will join the bank when EcoCash is ropped in.
What a waste of time… Are women really bring segregated…I find that hard to believe… This is a micro finance institution usually with higher interest which the author sure not even talk about… If anything they going to be pushing more that then before… This minister has nothing better to do
Guys we need to be serious. We need real financial institutions which cater for women who want to grow big and contribute meaningfully to the economy of this country. Micro financiers have got high interest rates. Is this bank going to be different from that. Why is it called Womens Bank. How is it different from other banks.
Great opportunity have been brought in by President ED to the whole women of Zimbabwe. Lets all the women stand up and grab the opportunity which have been put on platter by the only one and only one ED.
That moment when u are forced to get one money then immediately move money to your bank then to ecocash. Truth be said I have never been paid or even asked if I had one money, also never paid with one money knows no one who takes one money.
It was said its for medicinal use not smoking.