ACCESS BANK ZAMBIA LAUNCHES WOMEN START UP INITIATIVE

 By Scoop Reporter

ACCESS Bank and Cake Market College has launched a Women Start Up initiative which will provide 1,200 women with access to financial services and resources.

The initiative will enable women to participate fully in the economy and according to Access Bank Zambia Managing Director Lishala Situmbeko, the project was aimed at fostering financial inclusion and breaking the cycle of poverty for women.

“The Access Bank Zambia and Atlas Mara amalgamation was concluded in April 2024, marking the beginning of our journey and commitment to serving you as one brand, Access Bank Zambia. I would like to take this moment to reaffirm our commitment to the individuals, business, and communities we serve and, in this case, the female entrepreneurs,” Mr. Situmbeko said.

He said women faced significant barriers to accessing financial services and resources and that the barriers limited the ability to start or grow businesses and consequently, contributed fully to economic growth and prosperity.

And recognizing that challenge, he said Cake Market College and Access Bank had joined forces to address the specific needs of women entrepreneurs adding that through targeted support, the bank aimed to unlock the potential that lay within female entrepreneurs, enabling them to thrive and become pillars of the economy.

Under the initiative, he said, capacity building would include financial literacy training and business management skills to equip women with the knowledge and skills needed to succeed in business.

“Additionally, training on business planning, marketing strategies, customer relationship management, and other vital business management skills will be provided.

“Our aim is to facilitate access to financial services for women led businesses through our women banking proposition called the W Initiative, which aims to inspire, connect, and empower women with tailored solutions,” he said.

He said the bank would ensure that women it interacted with through the partnership, will access essential banking services to kick-start their business growth.

“By doing so, we are not just providing a service; we are fostering a sense of independence and financial stability. Through the W Initiative, the bank’s proposition for women, Access Bank is committed to opening the world to the benefits of providing opportunities for female entrepreneurs such as the WPower loan, capacity building, webinars, business clinics and bespoke liability products that suit emerging businesses,” he said.

He disclosed that currently, female owned businesses could access financing at 2 percent less interest with Access Bank.

“This benefit is only one of many more available to female-led businesses banking with Access Bank. To the female entrepreneurs who will benefit from this initiative, I say, they are the backbone of our economy, the heart of our communities, and the architects of our future,” he said.

And Cake Market College Principal, Christine Sakala said increased load management was the main hindering factor to the institution’s operations.