ZANACO chief executive officer Bruce Dick says lack of a policy framework in financial institutions has contributed to failure to advance women formal financial inclusion.
Mr Dick said the lack of a policy framework on women financial inclusion is forcing financial institutions to operate from the policy of equal access between men and women.
He also said lack of collateral is a challenge among women which has continued to prevent many from accessing finances.
Mr Dick was speaking during the plenary session at the African Women Economic Summit (AWES) which closed yesterday.
“As a bank we have ensured we train women on financial literacy for them to have that financial, education and business acumen,” he said.
Speaking earlier, Bank of Zambia deputy governor Tukiya Kankasa-Mabula said there is need to have interventions to ensure women financial inclusions.
Dr Mabula said financial institutions need to formulate policy on collateral as it has continued disadvantaging many women.
“From the participatory analysis we did, we discovered that women borrow for a greater need than men,” she said.
And National Bank of Rwanda vice governor Monique Nsanzagwana said advancing women financial inclusion requires political will.
Ms Nsanzagwana said that women financial inclusion has improved in her country due to a number of strategies her Government has put in place.
“We came up with strategies such as mobile banking, financial training, and a gender monitoring policy which have yielded greater results,” she said.
He also said lack of collateral is a challenge among women which has continued to prevent many from accessing finances.
Mr Dick was speaking during the plenary session at the African Women Economic Summit (AWES) which closed yesterday.
“As a bank we have ensured we train women on financial literacy for them to have that financial, education and business acumen,” he said.
Speaking earlier, Bank of Zambia deputy governor Tukiya Kankasa-Mabula said there is need to have interventions to ensure women financial inclusions.
Dr Mabula said financial institutions need to formulate policy on collateral as it has continued disadvantaging many women.
“From the participatory analysis we did, we discovered that women borrow for a greater need than men,” she said.
And National Bank of Rwanda vice governor Monique Nsanzagwana said advancing women financial inclusion requires political will.
Ms Nsanzagwana said that women financial inclusion has improved in her country due to a number of strategies her Government has put in place.
“We came up with strategies such as mobile banking, financial training, and a gender monitoring policy which have yielded greater results,” she said.
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