UBA CREATES TAILOR MADE SOLUTIONS FOR WOMEN BUSINESSES

THE United Bank for Africa (UBA) Zambia has tailor-made solutions for women owned businesses at competitive rates and flexible collateral requirements.

The financial institution has developed and currently offering customised credit products to its Small and Medium Enterprises (SMEs), which include short and long term working capital facilities, says UBA Zambia Head SME Banking, Nancy Zimba.

Ms Zimba said the bank is committed to facilitating economic growth in the country by supporting SMEs especially those led by women who have been marginalised.

“We offer customised credit products to our SMEs, which include short and long term working capital facilities,

Friday invoice discounting December facilities, 30, 2022 purchase order finance and

Asset Finance Facilities,” she said in a statement.

UBA, Ms Zimba said, believed that the private sector’s role was critical for Zambia’s development.

She also said the bank believed that the private sector must create both social and economic wealth.

“SMEs can help to lower poverty in communities by offering meaningful employment to locals in addition to enhancing the standard of living.

“The economic empowerment of women is increasingly recognised as critical for societies to develop,” she said.

Ms Zimba however observed that women faced multiple challenges to their full and fair inclusion in economic activities ADVERTISEMENT such as ac21 cess to finance.

She therefore urged female entrepreneurs to apply for the Tony Elumelu Foundation Entrepreneurship Programme.

This, she said, would grant selected entrepreneurs US$5,000 non-refundable seed capital, world-class business management training, mentorship, and access to key networks and markets.

“To guarantee a market-leading customer experience, the bank has designed its operations to make the process of accessing finance for SME owners simple, responsive, and goal-oriented,” Ms Zimba said.

She stated that the objective of UBA Zambia was to democratise banking with excellent customer driven solutions.

“The bank seeks to bring financial services to a majority of the Zambian populace and make it a basic entitlement,” Ms Zimba said.