Women said to be better credit risk

Officials at microfinance companies in Bulawayo said women tended to honour their debts and put borrowed money to good use.

Women in the country have taken up projects which include catering, confectionary, flea markets, cross-border trading, poultry, home and ceremonial décor, agriculture, knitting and livestock breeding.

Stoneleigh investments managing director Mrs Doreen Moyo said her company embarked on a programme that grouped women into groups of five and above for the purpose of empowering them.

“We feel that women are disadvantaged and we have grouped them which makes it easier for their projects to be successful. This has made us work with more women than men,” she said.

She said among other projects, women had also ventured into cattle buying and selling which was a male dominated business.

Wintron Finance Services managing director, a Mrs Sibanda hailed the projects done by women.

“Women are the controllers of many small projects and they have managed to bring in a lot of opportunities for our communities. They are also good debtors compared to men,” she said.
Nissi Finance director, Mr Sonny Phiri said his company was actively supporting female borrowers.

“We want to support women to run sustainable businesses and we have had a good response from them so far. Women have that nature of caring, they don’t waste money.

“They make sure that with the little cash they have they make more money and with Nissi we want to reach 95 percent of women in the country,” he said.

The activities of women have seen many microfinance institutions expanding due to viability of business with these customers.