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INVEST IN BUSINESS, WOMEN URGED

By BUUMBA CHIMBULU       

WOMEN should try to invest in businesses and not wait on policy announcements as there is a clear correlation between assets ownership and revenue generation.

Investing in assets such as a house can be used for investment such as collateral to access additional funds from a commercial bank, according to the Zambia National Business Society (ZNBS) Managing Director, Mildred Mutesa.

“Women still shy away from the opportunity for true empowerment. Policies in themselves will not help us, we as women must begin to believe that we can do it and make that change.

“We have a problem that we must address and fix as women. There is a clear correlation between assets ownership and revenue generation,” Ms Mutesa said recently at the Zambia Revenue Authority (ZRA) Women Leadership Development Forum.

She regretted that despite the socio and economic benefits, fewer than 20 percent of women in Zambia owned their own land.

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Ms Mutesa explained that a Bank of Zambia study (2019) in partnership with the Alliance for Financial Inclusion found that out of 1,000 borrowers, only 12 percent were women.

“As you collaborate network and learn today, it is time to change the narrative, it is time for you to step out of your comfort zone, invest in learning new things and start a new business.

“If you already have a business find  someone who can assist you to scale your business, read more, put yourself out more for additional roles and tasks at your work place. Yes at the same pay, invest in you,” Ms Mutesa said.

Speaking earlier, ZRA acting Commissioner General, Moses Shuko, said the objectives of the business conference were aligned to one of the key strategic pillars in ZRA current corporate strategic plan which was:  customer focus and collaborations.

This pillar, Mr Shuko explained, was expected to result in increased knowledge for  taxpayers.

He stated that the conference provided a platform for increased synergies and business to business collaborations in line with one of the ZRA strategic objectives of enhanced revenue collection which envisaged that trade facilitation would remain an area of focus.

“As female business owners you will have the opportunity to engage with the women in ZRA who will avail themselves to assist you to better understand what is expected of you as a good corporate citizen in relation to your tax obligations to ensure you remain tax compliant and thrive in your businesses?

“I believe that the conference will provide a safe environment for you to freely express your views and explain some of the operational challenges that you may be facing in ensuring that you remain tax compliant,” Mr Shuko said.

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