The Catholic Medical Mission (CMMB) has joined hands with Stanbic Bank in launching the country’s first-ever women-centered banking called ‘Anakazi Banking’.
The programme which is a joint venture by the two entities, namely Stanbic Bank Zambia and Catholic Medical Mission Board (CMMB) has been formulated to help small and medium business women to develop a habit of saving their earnings in order to prosper in business.
DMMB Country Director, Batuke Mwewa believes that women can only be able to fully reach their financial goals through the development of a systematic approach to saving from the little they earn from their businesses.
“CMMB believes that women are the cornerstone of every society, therefore, our organization is committed to help uplift the living standards of our women through partnerships like this between us and Stanbic Bank. Webelieve women should never be on the same level as they do business. Their profit has to grow and make them rich, not selling and selling for many years without making a fortune.
“To make sure we address the plight of our poor women in the country. We work in conjunction with the Ministry of Community Development and Social Services as well as health centers such as Kanyama, Matero, and Chawama First Level Hospitals as a way of ensuring that we safeguard the social well-being of families because we believe that healthier families are happy families. We also believe that women are less likely to be victims of vices such as Gender Based Violence (GBV) when they are empowered,” she said.
Also speaking at the same event, Mwangala Muttau, who is Stanbic Bank’s Portfolio Manager for Anakazi Women’s Banking Personal Markets, says the bank believes in women a lot, hence the initiative to introduce and educate women on the importance of saving and having a Savings Account.
“We decided to introduce Anakazi Women’s banking so that women can grow their businesses from one level to the other through savings because they will accrue some interest on the money they save with us,” she said.
Ms Mattau added that there were several benefits to having a Anakazi Women’s Account including the privilege to withdrawal at least three (3) times a month without withdrawal charges; no savings charges as well as accumulating interest.
She said the tripple cash withdraw monthly is meant to inculcate discipline in women about saving their meager earnings.