By DELPHINE ZULU –

.Chikwanda

GOVERNMENT has launched the first-ever women’s bank with Finance Minister Alexander Chikwanda emphasising the need to empower women countrywide.
Mr Chikwanda said the establishment of the bank would provide an institutional mechanism for women development and economic emancipation.
Mr Chikwanda said Government would inject more than K55 million as subscription towards the Bank of Zambia (BoZ)’s US$ 20 million capital requirement.
He was speaking during the launch of the first ever women’s bank yesterday in Lusaka.
Mr Chikwanda said the Patriotic Front (PF) was seriously working towards women empowerment by rolling out women’s empowerment programmes nationwide.
“The creation of the women’s bank will help provide an institutional mechanism arrangement for women to have access to finances, I have no doubt that this initiative will benefit the intended beneficiaries,” Mr Chikwanda said.
Gender and Child Minister Nkandu Luo said the programme would see lives of women being transformed under the PF government because the President Edgar Lungu had shown seriousness towards women empowerment.
Women’s BoZ interim Board chairperson Sherry Thole said the financial institution would also offer tailor-made loan facilities, especially to rural women nationwide.
“It is essential to improve women’s access to technology including mobile telecommunications systems as a tool for financial inclusion, mobile banking allowed for faster and more efficient transfer which
increases the volume of trade,” she said.