ZANACO reportedly disburses K3.8 million over 2 years to support women


About K3.8 million is reported to have been disbursed over the last two years to support women-led businesses.

ZANACO Bank expressed hope that this had enabled women to create employment opportunities and contribute to economic prosperity of Zambia.

Bank’s Chief Executive Officer, Mukwandi Chibesakunda, said the loans were disbursed through the Zee Women’s Banking proposition initiative built on key pillars of access to finance, access to markets and networking opportunities.

Read more: ZANACO reaffirms commitment to Zambian economy, as bank celebrates at 55

Chibesakunda said this at the second Zee Women’s Banking Awards held in Lusaka on Thursday.

She explained that these pillars were designed to provide women with the tools and resources they needed to thrive and succeed in their endeavors.

“Through the access to finance pillar, we are proud to offer collateral-free loans specifically tailored to meet the needs of women entrepreneurs.

“Over the last two years, we have disbursed an impressive K3.8 million in loans, enabling women to start and grow their businesses, create employment opportunities and contribute to the economic prosperity of our nation,” Chibesakunda said.

She said ZANACO was committed to supporting the prosperity of Zambia through programmes that uplifted communities and businesses as it turned 55.

Chibesakunda noted that studies had shown that when women were empowered, they invested back into their families and communities, leading to greater social stability and economic growth.

“In Zambia and across Africa, we have witnessed the transformative power of women’s empowerment in driving progress and innovation.

“Governments on the continent have made significant strides in promoting women’s empowerment through various policies, initiatives and programmes,” she said.

Chibesakunda also talked about the need to empower women-owned businesses in order to drive social-economic growth, saying the bank had a crucial role to play in enabling this.

“We will continue to provide tailored financial products and services, mentorship programmes and networking opportunities that will accelerate women to reach their full potential and contribute meaningfully to the economy,” she said.

At the same function, Health Minister, Sylvia Masebo, noted that: “societies flourish and economies thrive when woman are empowered. We must, therefore, continue to push boundaries as women.”

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