Financial institutions launch initiatives to showcase women

THREE microfinance intuitions marked International Women’s Day by launching initiatives to highlight contributions of microbanks to improve finance for women.
MiBank Ltd, People’s Microbank and Women’s Microbank worked in partnership with the Centre for Excellence in Financial Inclusion (Cefi) under the theme “promoting financial inclusion for all women”.
The programme, from March 6 to 9, included the setting up of dedicated lines in the branches offering women fee-free account opening, a series of publicity products highlighting the work of women in microbanks, a video featuring heads of the microbanks, a financial inclusion training facilitated by Cefi for 30 microbank account holders.
The financial inclusion training saw 30 female account holders from the microbanks receiving budgeting and savings training with certificates of participation.
The products include the Hibiscus card which has more than 18,000 in the market with K4 million in deposit.
The Hibiscus card can be opened with no service fee charged.
The People’s Microbank will be launching a fee-free account to women across branches until April. This is in addition to its wise women savings product that have reached over 42,000 active accounts. The only women microbank has 40,000 active women’s account in its seven branches.