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Business Reporter
MBCA Bank has launched a product tailored to meet the needs of a diverse group of women in the country. MBCA spokesperson Dedrey Mutimutema said the bank had researched and analysed women’s needs and developed a product tailored to meet the needs of many women in Zimbabwe. “MBCA Bank launched a Women’s CVP (Client Value Proposition), a product tailored to meet the needs of a diverse group of women.

“This expresses our keen interest in empowering women through our involvement and sponsorship of platforms targeted at women empowerment.”

Such platforms include, Women in Enterprise Conference, a brain child of the Zimbabwe National Chamber of Commerce, the Ministry of SMEs’ initiatives, Woman Excel, a platform that recognises and empowers women in Zimbabwe as well as the MBCA Bank annual women’s breakfast meeting, where ideas are shared on how to grow one’s business.

“Through such initiatives, we have created a platform for women run businesses to thrive,” she said. Mrs Mutimutema said the MBCA women’s value proposition aims to provide women with the means to make a significant contribution to the economy.

The value proposition offers a comprehensive mix of products specifically designed for the unique needs of women in Zimbabwe and it includes credit, savings and insurance products. The value proposition is categorised to satisfy three groups of women, that is women entrepreneurs, corporate business leaders and salaried women.

She said the bank has allocated a pool of funds which can be accessed by women at preferential rates. Women entrepreneurs can retool their businesses while salaried women can access personal loans for various purposes.

Women who will open new MBCA accounts under this value proposition, will also enjoy higher interest rates on deposits to encourage a saving culture. Mrs Mutimutema said account opening deposits have been reduced while the monthly account maintenance fees have also been lowered.

In addition to preferential rates and charges, MBCA Bank will create networking platforms and mentorship opportunities for these women.