Bridging the Funding Gap for Women Entrepreneurs.WIB drives economic empowerment by addressing the funding challenges faced by women entrepreneurs.
Key Initiatives:-
– Mukando
-WIB Spinners
Mukando (also known as “Round” or “Investment Group”) is a traditional, informal savings and investment group model in Zimbabwe, particularly popular among women. The concept has been instrumental in empowering women financially and socially
Key Characteristics:
1. Women come together to form a group.
2. Members contribute a fixed amount weekly, fortnightly or monthly.
3. The money is given to one or two people to start invest.
4. Decision-making: An individual makes the decision on investments.
5. Social support: Mukando provide emotional support and networking.
Benefits of WIB Mukando:
1. Financial empowerment: Women access funds for business, education, or personal needs.
2. Economic independence: Mukando promote self-reliance and financial stability.
3. Social cohesion: Members build strong relationships and support networks.
4. Entrepreneurship: Mukando encourage entrepreneurship and business growth.
5. Financial literacy: Members learn budgeting, saving, and investment skills.
WIB Mikando Available :
1. Savings Mukando: Focus on saving and emergency funds.
2. Investment Mukando: Invest in Real Estate, real estate, Agriculture, Trucking businesses etc…
3. WIB Spinners: Combine savings and lending to members.
4. Table Banking Chamas:
Impact:
– Tangible and transformative outcomes
– Propelling growth and development of women-led enterprises
– Strengthening the local economy
– Creating sustainable opportunitiesThe Women’s Mukando concept has been recognised globally for its innovative approach to financial inclusion and women’s empowerment.
