Five female entrepreneurs receive US$10,000 each in StanChart’s push to empower women in tech

Five women entrepreneurs have each received US$10,000 seed funding from Standard Chartered Bank Zambia under its Cohort three of the SC Women in Technology Incubator Programme (SC WIT).

The SC WIT was designed to identify, develop and support women-led businesses in the technology sector.

Bank Chief Executive Officer, Sonny Zulu, said at the graduation ceremony in Lusaka recently that the third cohort had businesses across sector such as education, health, agriculture, finance and Information Communication Technology.

Zulu pointed out that women led businesses in various sectors were embracing technology and innovation.

“As a Bank we are passionate about technology. We have led the way by launching Zambia’s first ever end to end digital Bank which now provides our clients with access to jet 70 banking services at the click of a button. That is the convenience that technology provides,” he said.

Zulu also said the initiative also supported government’s efforts to grow Small and Medium Enterprises (SMEs).

Implementing partner, BongoHive Director of Entrepreneurship and Innovation, Simunza Muyangana, said the initiative was an undeniable answer to the needs of many female-led businesses.

Muyangana said this helped in creating a level playing field for start-ups through funding, digital skills development and business coaching support.

“Despite the growing proportion of female founders on the continent, in many cases, women still receive the short end of the stick when it comes to accessing funding to support their businesses.

“As an implementing partner, we are grateful to Standard Chartered Bank Zambia for their continued commitment over the years to ensuring that female entrepreneurs are availed the necessary support they need in their entrepreneurship journey,” he said.

Officiating at the same function, Small Medium and Enterprises (SME) Development Minister, Elias Mubanga, applauded the bank’s commitment to empowering women entrepreneurs and providing them with the tools needed to succeed in a male-dominated sectors.

Mubanga said he was happy that Zambian women entrepreneurs were at the heart of this programme, stating that SMEs were critical players of any economy.

“Many women are involved in entrepreneurship; however, the majority operate micro and small-scale enterprises.

“That is why the government of Zambia – under the new dawn government of His Excellency president Hakainde Hichilema – has developed deliberate policies and interventions to empower and support women in their business ventures to that they can thrive and grow,” he said.

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