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Tuesday, May 21, 2024

Government reiterates commitment on financing women in Business

Government reiterates commitment on financing women in Business

Story by Memory Chamisa

THE government continues to come up with initiatives to support women in business as it seeks to promote equity and growth in the sector.

In a business interactive session organised by Professional Women Executives in Business (PROWEB) in collaboration with the Ministry of Women Affairs, Community, Small and Medium Enterprises Development this Saturday in Mt Hampden, financial literacy has been cited as an enabler to grow their businesses, create jobs, and contribute to Zimbabwe’s economic development.

The ladies also raised other issues, chief among them business profitability and sustainably.

“These programmes equip budding women with relevant skills to run their businesses and we are grateful to the ministry for taking the time to come and interact with us profitably and sustainably. However, there is a need to ensure we make a profit from the enterprises and businesses that we are operating. The issue of sustainability is key as most businesses suffer stillbirth as they do not have long-term projections,” said one of the entrepreneurs.

Another added, “I am a young entrepreneur and this has been an eye opener listening to some of the stories of these women who have been around the block for a long time speaking about them is very inspiring. The issue of financial literacy is key, and most women end up giving up as they do not know the basics to run a company that employs many people.”

The Minister of Women Affairs, Community Small and Medium Enterprises Development, Senator Monica Mutsvangwa highlighted the government’s commitment towards the upliftment of women in business.

“The stories that were shared here are a source of inspiration. As a ministry, we are working to promote women’s economic empowerment by supporting the development of micro, small, and medium-sized enterprises (MSMEs) owned by women. The government is providing training, mentoring, and financial support to women entrepreneurs. The ultimate aim is to enable women to be equipped with relevant skills to run their business profitably and sustainably,” she said.

PROWEB President Ms Tendayi Hlupo-Mamvura spoke on the need for women and girls to have equal access to resources, services, and opportunities like their male counterparts.

“As PROWEB, we have been working with the government to promote gender-responsive budgeting, which aims to ensure that government budgets address the specific needs and priorities of women and girls. We have been providing training and technical support to women across the country’s provinces together with government officials to integrate gender considerations into budgeting processes. Such occasions are a barometer to see how many women have managed to rope in others to have sound business plans and projects that are sustainable. We are grateful the minister has reassured us that her door is also open and we are going to utilise that opening to strengthen our businesses,” she said.

The establishment of the Zimbabwe Women’s Micro Finance Bank has had a positive impact on accessing loans for women’s businesses.

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