Zimpapers Logo

Crystabel Chikayi, Business Reporter
INCREASED funding should be channelled towards supporting female entrepreneurs so as to bridge gender inequality and foster inclusive economic growth, MBCA Bank managing director Dr Charity Jinya said yesterday.

Attaining sustainable development would remain elusive unless women in the country are empowered to participate in the economy, said Dr Jinya who was addressing a gathering during an MBCA-organised breakfast meeting in Bulawayo.

“To empower a woman is to empower a nation. In order to see change, women should elevate each other. The older women have to mentor the younger, giving them the proper guidance to grow their businesses. By so doing we will manage to change the face of our socio-economy,” said Dr Jinya.

She urged women to be bold, confident and courageous and avoiding despondency so as to be productive.

Said Dr Jinya: “Stepping out to make our mark as women takes boldness and strength of character, it takes resilience and commitment to get the job done.

Being a bankable woman requires us to ensure that we formalise our operations if we are to access funding from banks. Balance as virtuous women means balancing between our roles as business women and our role as home makers.”

She made reference to the World Economic Forum prediction, which noted “the gender gap will not close until 2186”.

“That’s unbelievable. But if we all work on elevating our female colleagues, then change will come even sooner than 2186,” said Dr Jinya.

She said MBCA Bank has already come up with a deliberate value proposition specifically targeted at empowering women, a first of its kind in the market, offering concessionary rates to women.

The proposition is categorised into three distinct groups, that is, women entrepreneurs, corporate business leaders and salaried women.

“This proposition offers a comprehensive mix of products, which include, credit, savings and insurance. We have allocated a pool of funds, which can be accessed by these groups of women at preferential rates. Women entrepreneurs can retool their businesses while salaried women can access personal loans for various purposes. We will continue to review and improve the product features in line with the needs of our female clients,” said Dr Jinya.

She said MBCA Bank was also an active supporter of SMEs having opened a dedicated SME unit, followed by educational workshops aimed at equipping SMEs with various business, accounting and finance skills.

Last year the bank extended funding for five fish farming projects, which are run by disadvantaged women in the Banket area. Since then involved women have managed to fill two ponds with 2 000 fingerlings, which are due for harvesting in August this year. The bank also assisted women in Mutare to start projects that will help them to generate sustainable income and to support their families.

— @cchikayi.