The Zimbabwe Women’s Microfinance Bank (ZWMB) has loaned out $3,6 million to women around the country according to the bank’s head of marketing and public relations, Babra Muyengwa.
Muyengwa revealed this while speaking to wives of traditional leaders at an interface organised by First Lady Auxillia Mnangagwa Saturday in Masvingo. Said Muyengwa:
We have given money to 7 500 women so far and the total amount we have loaned out is $3, 6 million. It is a record number considering we opened in June last year. The very same month we opened, a total of 45 000 people opened bank accounts with our institution.
Muyengwa urged the beneficiaries to venture into caster beans production and pledged to provide the seeds and fertilisers.
Caster beans can be grown anywhere in the country except in Nyanga where the temperatures are low. S o this is a low hanging fruit which can give you not less than $1000 per hectare and not more than $3000 per hectare. So women would venture into this business. We will provide you with seed and fertilisers