Indo-Zambia wins women’s hearts

Several women organisations have commended Indo Zambia Bank for providing loans worth over KR2 million to over 80 women groups.

The Women organisations who spoke in separate phone interviews with ZANIS said the move would go a long way in empowering women in the country.

INDO-Zambia Bank (IZB) on Wednesday this week disbursed KR2.2 million under the micro-credit lending scheme to 85 women groups comprising more than 1,000 beneficiaries.

IZB managing director Shankardas Gupta said 38 of the groups were borrowing for the first time and that the repayment period was between 12 and 24 months.

The Non-Governmental Organisation Coordinating Council (NGOCC) Chairperson Beatrice Grillo praised the bank saying the council sees more women benefitting especially if the funds reach the grassroots.

Ms Grillo called on other banks to emulate Indo Bank by offering more financial assistance to women who have shown that they have good ideas and the zeal to improve their welfare.

She  said women have the impetus to develop themselves but lacked the capacity to engage in more lucrative business ventures. She said while the funds would provide assistance to several women there was need to provide proper marketing and loan conditions which will not marginalize women.

“loans should be accessible to all women, they should not be given out on political basis, instead they must be accessible to all women particularly those in rural areas,” she said.

Ms Grillo further advised that the repayment period should be varied among the women groups because not all women engaged in the same business.

And the Young Women Christian Association (YWCA) National President Lucy Lungu has commended indo bank for providing KR2.2 million to women groups saying a lot of women stand to benefit from the move.

Ms Lungu implored more banks to come forward and empower women with not only funds but training as well.

She  said women need to be trained in prudent management of the loans to ensure that they do not fail to pay back the funds.

Meanwhile, the Women In Law in Southern Africa (WLSA) Regional Coordinator Matrine Chuulu has says  women have a high percentage of loan repayment than their male counterparts.

Ms Chuulu said WLSA did not foresee any women failing to meet the conditions set out in the loans because women have a proven track record of repaying loans whenever they were given to them.

She however said her organisation is ready to provide legal assistance to women who may have problems to repay the loans. / ZANIS