Govt introduces village banking for women

Govt introduces village banking for women

Kalabo, November 28,2014, ZANIS……….Government  through the Ministry  of Community Development  Mother and Child Health has introduced  a village banking  facility for women in order to help boost  their businesses.

ZANIS reports that Community Development Officer Simasiku Simasiku disclosed this yesterday during a presentation to the District Development Coordinating Committee (DDCC) meeting held in Kalabo district Council Chambers.

Mr Simasiku explained that government through the department of Community Development had introduced Village Banking in Kalabo for the first time and had allocated K75, 000 adding that 120 women had so far been identified.

Under Village Banking the women who are already in business would be given an opportunity to get loans without collateral up to a maximum of K1000 and a minimum of K200.

The women are encouraged to open a savings account at National Savings and Credit Bank.

He said the department would first monitor the viability of the business before giving out loans as the ideal situation was to boost their income.

Mr Simasiku revealed that the village banking product would be launched soon.

He however noted the need for the department to carry out a massive sensitization exercise before the product was finally launched.