Stanchart to empower women with $10,000 seed capital

Stanchart to empower women with $10,000 seed capital
By BUUMBA CHIMBULU
STANDARD Chartered Bank has launched its second Women In Technology programme, which will provide five female led businesses with US$10,000 seed capital each.
This would give an opportunity for the women to scale up their enterprises through the provision of finance and technical support, Standard Chartered Bank Chief Executive Officer Herman Kasekende said in Lusaka yesterday.
Mr Kasekende said the Women in Tech programme would assist the Small and Medium Entrepreneurs (SMEs) scale up their businesses through the use of technology.
Speaking at the launch of its second cohort programme, Mr Kasekende indicated that women played a significant role by supporting their homes and sending their children to school, among others from their earnings arising from the business.
“These ventures contribute to the wider economy and it is upon all of us to support these efforts .we are glad to join Government efforts to support SMEs which are the bedrock of many economies worldwide,” he said.
Mr Kasekende said the programme was one way the bank was empowering women led small businesses to harness technology and help them scale up their businesses.
In view of this, he said the bank would again provide finance of US$10,000 each to five finalists on the programme.
Speaking at the same function, Small and Medium Enterprises Development Minister Elias Mubanga said it was important for stakeholders to assist Government in empowering local businesses with the necessary finance and technology.
Mr Mubanga said this would significantly contribute to the development of the country.
He indicated that SMEs need to be provided with skills so that they can sustain their businesses once provided with funding.
“Women led businesses need support and are important in the development of the nation. The public need to tap into the opportunities being presented by the new dawn administration to participate in the development of the country.
“For this to be achieved, Government will work in partnership with the private sector to help SMEs develop and have access to affordable credit,” Mr Mubanga said.
He said SMEs are key to drive the economic development of the country and create the much needed jobs.
Mr Mubanga said they would provide the policy to drive the growth of the SMEs sub-sector, adding that the Women In Tech incubator programme was in line with Government’s programme to promote entrepreneurship.