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Women’s Bank Signs Caster Bean MOU

Government through the Zimbabwe Women’s Microfinance Bank has signed a Memorandum of Understanding with Life Brand Agriculture Services targeted at empowering women through castor bean farming.

The agreement will see Life Brand Agriculture Services, a local company specialising in agriculture, supplying castor bean seeds.

The bank will finance the project.

Speaking after officiating and witnessing the signing ceremony in Harare yesterday, Women Affairs, Gender, Community, Small and Medium Enterprises Development Minister Sithembiso Nyoni applauded the initiative.

“I would like to thank and appreciate this development which is earmarked to empower the women in Zimbabwe. This is a huge mile stone in economic empowerment drive and the national financial inclusion strategy of Zimbabwe.

“As the ministry, we believe and we have no doubt that this partnership will yield the desired results and indeed address the United Nations Sustainable Goal number One of Poverty Eradication,” said Minister Nyoni.

She said the initiative will address the needs of the marginalised women.

“In line with the Transitional Stabilisation Programme which recognise the need for empowerment of women and youth and the disabled, this programme will improve the welfare of the historically marginalised.

“Our women face diverse challenges each and every day of their lives. The Women’s Bank continues to develop products, financial solutions and initiatives to address the unique needs of women,” she said.

Chief operations officer for Life Brand Agriculture Services Mr Israel Kembo said: “At a time Government is looking to reinvigorate the economy, we are confident that castor bean project will be one of the key ways to create fresh money into the economy and further compliment export crops like tobacco among others.”

Chief executive for Women’s Microfinance Bank Ms Mandas Marikanda urged women to take up the initiative and empower themselves.

Source : The Herald

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