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BoZ considers women for financial inclusion

The Bank of Zambia says it has a strong commitment to financial inclusion for the woman in the country.
Speaking at the launch of the report titled “Labour Pains and Beyond: Understanding the financial lives of low-income Zambian mothers”, BoZ Deputy Governor of Administrative Tukiya Kankasa says financial inclusion for women has been demonstrated by the Central bank’s 2016-2019 strategic plan where gender mainstreaming in the financial sector is one of the five strategic objectives.
Dr. Kankasa says the bank has made significant strides in mainstreaming gender in the banking sector through advocacy.
“This is also done through developing the capacity of financial services providers by caring out audits and various trainings in order to tailor their services to suit women and women operated programs,” she said.
Dr. Kankasa adds that the bank is encouraged that the commitment to advance women’s financial inclusion has been carried forward at a higher level in the 2017to 2022 National Financial inclusion strategy for Zambia.
Speaking earlier United Nations Capital Development Fund Regional Technical Specialist Nandini Harihareswara says to effectively mothers with digital financial servicers the research findings suggest financial providers should target on savings and investment products at mothers that could make their savings work for them.
She adds that most mothers involved in the research understood the necessity of saving, despite most of the saving chose to save at home.

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