The Zimbabwe Women Micro-Finance Bank (ZWMB) has disbursed nearly $4 million worth of loans to women since it began operating last year.
Addressing the Women Affairs and SMEs parliamentary portfolio committee during a familiarisation tour yesterday, ZWMB chief executive officer Mandas Marikanda said they have disbursed approximately $3 773 030 to 7 706 clients, with the Midlands Province topping the list of borrowers.
President Emmerson Mnangagwa opened the women’s bank last year to offer loans to women, youths and small-scale businesses to bring about financial inclusion.
“Gokwe District in the Midlands Province is leading in terms of borrowers because of the cotton, sorghum and sesame value chains,” Marikanda said.
“To date, the rate of non-performing loans stands below one percent and we are anticipating that it will decrease further,” she added.
The bank, which still operates with one branch, is in the process of opening a second branch in Bulawayo which will service the whole southern region before opening more branches in all provinces.