THE Zambia Federation of Associations of Women in Business (ZFAWB) has challenged small-scale women entrepreneurs to save their profits if they are to access funds from financial institutions. ZFAWB chairperson Christine Mulundika said in an interview yesterday that it was important that women entrepreneurs developed a habit of saving their proceeds if they were to access funds from banks or any other financial institutions.
She said the association realised that one of the challenges faced by women entrepreneurs was access to finances but that the solution to this challenge was to save in banks and that would be the only way they could access money.
“Banks and any other financial institutions can only lend money to women entrepreneurs who are saving and this is why we are encouraging our members to develop a habit of saving,” she said.
Her organisation was however organising itself and working closely with some banks and other financial institutions on how best members could be assisted to access funds.
And Mrs Mulundika has said ZFAWB has embarked on a training programme for its members dubbed ‘Get ahead Gender Entrepreneurs’ aimed at educating women on how to do business, look after and improve the business.
The association which would start the programme from Lusaka was expected to cover the country and would have 20 members per training if it was to be a success.
Women would also be trained on how to make proposals and access finances, set up businesses, make the business grow, record keeping and finances management.
“We do not want to have a situation where entrepreneurs will be doing business for the sake of doing so, but they should have a thought in mind that one day they will graduate from small scale to medium or large- scale,” she said.
[Times of Zambia]