Lungu to launch Women Bank

President Edgar Lungu

President Edgar Lungu is tomorrow, Saturday, 12^th December expected to launch the women’s bank whose objective is to address the challenges encountered by women entrepreneurs in accessing loans and other financial services.

Gender Minister Professor Nkandu has told a media briefing that most women especially the rural women are unable to access investment capital to engage in business and other economic activities due to lack of collateral.

Professor Luo has told a media briefing that it is for these reasons that government has decided to establish a Women’s Bank of Zambia that will help women entrepreneurs have access to investment capital and other financial services.

She says the Bank will provide women with support services to undertake progressive business undertakings locally and regionally.

Professor Luo further states that the Women’s Bank also demonstrates government’s deep appreciation of the needs of women.

She adds that the Bank will be headed by a Board of Directors consisting of 10 board members out of which 6 positions will be for women and 4 for men.

Professor Luo says the Government will hold 25% shares in the bank, while the women will hold 50% and private sectors 25%.