Zimbabwe Women Microfinance Bank
TypeParastatal
IndustryFinancial services
FoundedMay 29, 2018 (2018-05-29)
HeadquartersHarare, Zimbabwe
Key people
Mandas Makarinda
Chief Executive Officer[1]
ProductsLoans, savings accounts
Total assetsUS$10 million (2018)[2]

Zimbabwe Women Microfinance Bank, whose full name is Zimbabwe Women Microfinance Bank Limited, is a deposit-taking microfinance institution in Zimbabwe.[1] The bank serves those members in the community, who have been un-reached by conventional commercial banks, particularly rural women.[1][2] Its mission is to empower all women economically and socially.[3]

Location

The bank maintains its headquarters and main branch in the Trust Towers Building, along Samora Machel Avenue in the central business district of Harare, the capital and largest city of Zimbabwe.[1] The geographical coordinates of the bank's headquarters are:17°49'37.0"S, 31°02'47.0"E (Latitude:-17.826944; Longitude:31.046389).[4]

Overview

As of June 2018, the bank's assets were valued at US$10 million, all of it being shareholders' equity.[2] A that time the bank maintained one branch, in downtown Harare.[1] Media reports indicate that it is the first Women's bank in Southern Africa. While serving customers regardless of gender, the bank focuses on delivering services to women, specially rural women with emphasis on the previously un-banked.[5] Services offered include savings accounts with low opening deposits, group accounts, availability in rural areas, lending to micro, small and medium enterprises and provision of financial literacy classes.[1][2] During the first ninety days, the bank opened nearly 9,000 client accounts.[6]

History

After a period of planning, the Reserve Bank of Zimbabwe granted a microfinance banking license to Zimbabwe Women Microfinance Bank Limited to commence operations on 29 May 2018.[1] The bank commenced banking services on Tuesday 12 June 2018.[1]

Ownership

The company is 100 percent owned by the Zimbabwean government, through the Zimbabwe Ministry of Women's Affairs, Gender and Community Development.[1][2]

See also

References

  1. 1 2 3 4 5 6 7 8 9 Zvorufura, Faith (6 June 2018). "Zimbabwe: Women's Bank Finally Commences Operations". Harare: 263Chat.com via AllAfrica.com. Retrieved 7 June 2018.
  2. 1 2 3 4 5 Murwira, Zvamaida (7 June 2018). "Zimbabwe: Women's Bank Opens Tuesday". The Herald (Zimbabwe) via AllAfrica.com. Harare. Retrieved 7 June 2018.
  3. ↑ Zimbabwe Women's Microfinance Bank (2018). "Corporate Overview Background, Vision, Mission & Values". Zimbabwe Women's Microfinance Bank. Retrieved 25 October 2021.
  4. ↑ Google (7 June 2018). "Location of the Headquarters of Zimbabwe Women's Microfinance Bank, Harare" (Map). Google Maps. Google. Retrieved 7 June 2018.
  5. ↑ Butaumocho, Ruth (14 June 2018). "Zimbabwe: Women's Bank Opens". The Herald (Zimbabwe) via AllAfrica.com. Harare. Retrieved 18 June 2018.
  6. ↑ Elita Chikwati, and Mary Muradzikwa (13 August 2018). "Zimbabwe: Women's Bank Gets Massive Response". Zimbabwe Herald via AllAfrica.com. Harare. Retrieved 20 August 2018.

17°49′37″S 31°02′47″E / 17.82694°S 31.04639°E / -17.82694; 31.04639

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