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With Anakazi Program, Stanbic to Boost Zambian Women’s Entrepreneurship

Thursday 27th April 2017

Stanbic Anakazi 2017.3Late last month, GBA member Stanbic Bank officially launched its Anakazi Women’s Market program at an event with more than 100 influential Zambian women.

Anakazi, which means “Women,” seeks to provide Zambian women entrepreneurs with the tools they need to succeed. These tools include access to financing and convenient banking services, mentorship, networking opportunities, educational services, access to markets, and help with business formalization.

“In all our market research, what came out clearly is that most women had inadequate information to be able to formalize their businesses or inadequate access to finance,” Mwansa Mutati, Head of Business Banking at Stanbic, told the Zambia Business Times. “Through our training, mentorship program and networking events, our women entrepreneurs will gain knowledge in business management, access to capital and access to markets.”

Deputy Governor of the Bank of Zambia Dr. Tukiya Kankasa-Mabula praised Stanbic’s new program, saying banks can play a key role in increasing women’s economic empowerment.

“This is exactly what the women of Zambia need to excel. Financial assistance from financial institutions can put women in a good position, considering that a majority of them do have business acumen that is not supported by funding,” Dr. Kankasa-Mabula told the Lusaka Times.

Stanbic Anakazi 2017.4Apart from women SME owners, Anakazi will also target women as Personal Banking customers. Stanbic hopes the program will have a strong impact on women’s financial inclusion in the country by increasing access to credit and formal banking services.

Stanbic joined the GBA earlier this year after attending the first All-Stars Academy in The Hague, the Netherlands, in June 2016 and then the Annual Summit in November 2016.

“Through our GBA membership, we have found great value from the access to a broad network of organizations worldwide that have the expertise and experience necessary to launch and embed a successful Women’s Market proposition,” Mutati added in the Zambia Business Times interview.

Stanbic will also be participating in the upcoming All-Stars Academy in Zambia, being held in Livingstone from June 19-22.