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Pamela Shumba, Senior Business Reporter
THE Women’s Bank has opened more than 365 000 accounts for women since its inception five months ago, a development that has been commended by the Parliamentary Portfolio Committee on Women’s Affairs, Community, Small and Medium Enterprises and Cooperative Development.

Presenting the committee’s post budget analysis report in Parliament recently, committee chairperson and Mutasa West MP Chido Madiwa said the subscription level for the bank was a clear indication that the establishment of the institution was critical and long overdue.

“The establishment of the Women’s Bank is a clear indication of the growing importance of women’s issues in the country’s developmental agenda. This is welcome. The bank, which is currently less than five months since its inception, has opened a total of 365 755 women accounts across the country’s provinces and this is welcome,” she said.

“The women’s bank has been well received across the country’s provinces. This is in light of the magnitude of the accounts opened by women as well as many applications received which are overwhelming given that the bank is less than five months old.”

MP Madiwa implored Government to allocate adequate funds to the Ministry of Women’s Affairs, Community, Small and Medium Enterprise and Cooperative Development so that women’s challenges and issues are sufficiently addressed.

“The ministry’s 2019 total bid was $64 million. However, only $44 million of the required amount was allocated, leaving a total shortfall of $20 million. The Ministry’s budget is sub-divided into three main programmes, namely policy and administration, women empowerment, gender and community development and small and medium enterprise and cooperative development,” she said.

MP Madiwa said the funding shortfalls have a negative impact on the implementation of the ministry’s projects that aim to improve the livelihoods of women in the country.

“Under policy and administration, a total bid of $27 million was submitted but only $12 million was allocated leaving a shortfall of $15 million. Under this programme, provincial and district administration has the largest shortfall of $12 million, followed by finance and administration with a shortfall of $1 million.

“It’s important to note that this shortfall compromises the ministry’s ability to reach out to early projects in the provinces, given that the ministry is structured to grassroots level and it has never been financed to an extent of having the capacity to have even office accommodation for its officers in the various wards and villages,” said MP Madiwa.

She said the ministry was committed to fulfilling its mandate to promote women empowerment, gender equality and equity, community and cooperative development as well as promoting small and medium enterprises development.

— @pamelashumba1