Zimbabwe Women's Microfinance Bank

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Zimbabwe Women's Microfinance Bank
FoundedMay 29, 2018; 3 years ago (2018-05-29) in Harare
FounderGovernment of Zimbabwe
HeadquartersHarare, Zimmbabwe
Key people
Mandas Makarinda (CEO)
ProductsSavings, Micro-finance loans

Zimbabwe Women's Microfinance Bank (ZWMB) is a financial institution in Zimbabwe. The bank was created by the Ministry of Women Affairs, Gender and Community Development in order to alleviate poverty and give women access to financial services especially those in remote areas.

Background

President Emmerson Mnangagwa at the official opening of the Zimbabwe Women's Microfinance Bank

ZWMB was granted a license to operate a micro-finance bank by the Reserve Bank of Zimbabwe on 29 May 2018. The bank opened its doors on 12 June 2018. The bank was officially launched on 25 June 2018 by President Emmerson Mnangagwa.granted a microfinance banking license to Zimbabwe Women Microfinance Bank Limited to commence operations on 29 May 2018.[1]

At launch, the bank was capitalised with $10 million by the government.[2]

References

  1. Zimbabwe: Women's Bank Finally Commences Operations, allAfrica.com, published: 26 Jun 2018, retrieved: 26 Jun 2018
  2. Zim scores a first, launches women’s bank - NewsDay Zimbabwe, NewsDay Zimbabwe, published: 25 Jun 2018, retrieved: 26 Jun 2018