Govt introduce village banking in Kalabo

Government through the Ministry of Community Development Mother and Child has introduced Village Banking for women in order to help boost women entrepreneurship.

Community Development Officer Simasiku Simasiku notes that government through the department of Community Development has introduced Village Banking in Kalabo for the first time and has allocated total sum of K75, 000.

He says so far, the department has identified 120 individuals.

Under Village Banking the women who are already in business would be given an opportunity to get loans without collateral up to a maximum of K1000 and a minimum of K200.

The women are encouraged to open a savings account at National Savings and Credit Bank.

He says the department would first monitor the viability of the business before giving out loans as the ideal was to boost their income.

Mr. Simasiku further states that the product will be launched soon.

He however notes the need for the department to carry out a massive sensitization exercise before the product is finally launched.

Reporting by Lusa Kilale