dyton mupawaenda
Remember Deketeke-Herald Reporter
THE European Investment Bank (EIB) and Stanbic bank have launched a €20 million (ZiG525.9 million) credit line to empower women in small and medium businesses which are emerging as a vital catalyst for the country’s economic development
The facility will also help to accelerate President Mnangagwa’s policy of pushing private sector-led growth towards an upper middle income economy by 2030 with no one, including women, left behind. The credit line will support businesses run by women, with 60 percent allocated to the green energy and agricultural industries.
European Union Ambassador to Zimbabwe Mr Jobst von Kirchmann said investing in women is key in driving the economy forward.
“This dedicated credit line complements Team Europe and Zimbabwe’s efforts on the ground in implementing the Global Gateway Strategy. We are not only unlocking opportunities for women entrepreneurs but also driving inclusive economic growth,” he said.
“This partnership between the EU, EIB Global, and Stanbic demonstrates our commitment to women’s economic empowerment and financial inclusion, creating jobs, and strengthening Zimbabwe’s private sector.”
Stanbic Bank chief executive Mr Solomon Nyanhongo said by empowering women-led businesses, the initiative would foster economic inclusion and national development.
“This initiative aligns with our core belief that Zimbabwe is our home, we drive her growth. By supporting SMEs and enterprises owned or run by women and employing significant numbers of women, we are fostering economic inclusion and national development,” he said.
EIB vice president Mr Thomas Östros said: “With over half of the SMEs in Zimbabwe owned by women, EIB Global support for these businesses will have a real impact on economic growth, jobs and prosperity. Backing women in business contributes to more sustainable and inclusive growth, strengthening communities.”
Online Reporter