Over 700 women benefit from $450,000 empowerment fund

More than 700 women in Zambia have benefited from the Academy for Women Entrepreneurs (AWE) programme with about US$450,000 seed grant given to them.

This is under the initiative designed to empower women globally to assist them fulfil their economic potential since 2019.

AWE is an initiative of the Women’s Global Development and Prosperity and targets to reach millions of women by 2025 by promoting an enabling environment that reduces barriers and facilitates women’s participation in the economy.

The programme is being implemented since inception by the Women Entrepreneurs Access Center (WEAC) with support from the United States embassy.

Small and Medium Enterprises Development Minister, Elias Mubanga, observed that the lack of skills among women Small and Medium Entrepreneurs (SMEs) is a hindrance to their growth.

Read more: Women’s group, WEAC, World-Wide Fund collaborate to fight unemployment in Zambia

He said this at the WEAC academy for women entrepreneurs’ phase four graduation on Thursday in Lusaka.

“The graduation is a demonstration of the great achievement’s one can attain when working together. Women SMEs need skills to minimise the risk of loosing out. Skills development remains a focus to build valuable SMEs,” Mubanga said.

He also said government had stepped up efforts to rebuild the economy.

“We need everyone to become a middle-income country by 2030. We will create an enabling environment such as improving access to finance,” Mubanga said.

Earlier, WEAC Executive Director, Nambula Kachumi, said about 280 women had graduated from Lusaka, Livingstone, Ndola and Kitwe.

Kachumi said through the programme, SMEs were prepared and their business plans were developed through public, private partnership.

“WEAC remains committed to seek creative solutions and addressing gender barriers. Despite opportunities there challenges women facing from effectively participating in the economy,” she said.

United States of America ambassador to Zambia, Michael Gonzales, said women were critical to the development of the country.

Gonzales encouraged the graduate to continue learning to better their businesses.

He also announced the launch of the fifth application phase.

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