The government has commended Standard Chartered Bank Zambia for its $500,000 investment in the Women in Tech (WIT) program, aimed at empowering female entrepreneurs in Zambia.
Speaking at the Standard Chartered Women’s Month Commemoration at her office, Vice President W.K. Mutale Nalumango welcomed the investment, stating that it aligns with the government’s national agenda to empower women.
“This investment is a testament to the government’s commitment to women’s empowerment and economic development,” Vice President Mutale Nalumango said.
“We are delighted to see private sector players like Standard Chartered Bank supporting our efforts to empower women.”
The Vice President emphasised that empowering women is crucial for national development, stating that when women are empowered, the whole village, the entire community, and the nation at large are empowered.
The government has placed women’s empowerment at the top of its national agenda, and this investment is a significant step towards achieving that goal.
The WIT program, launched in Zambia in 2020, provides training, mentorship, and seed funding to female-led businesses, focusing on innovation-driven entrepreneurship.
Her Honour the Vice President commended Standard Chartered Bank for its commitment to supporting women’s empowerment.
“I would like to take this opportunity to thank Mr. Zulu and the entire Standard Chartered Bank team for rallying behind us on our national women’s empowerment agenda,” she said.
The $500,000 investment is expected to have a positive impact on the Zambian economy, as empowering women is known to have a multiplier effect on communities and nations.
Standard Chartered Bank Zambia Chief Executive Officer, Son Zulu, said the bank’s efforts to empower women are part of its strategic intent to lift the participation of women and SMEs in the economy.
Mr. Zulu noted that the bank has made significant progress in promoting gender equality, including appointing its first female board chair, Ms. Dolika Banda.
He also highlighted the bank’s efforts to create a more inclusive work environment, including increasing parental leave to 20 weeks for both male and female employees.
According to Mr. Zulu, the WIT programme, launched in 2020, provides training, mentorship, and seed funding to female-led businesses, focusing on innovation-driven entrepreneurship.
Mr. Zulu noted that the programme has already supported 21 Zambian women with seed funding of $10,000 each, and over 100 women have completed the programme’s boot camp training.
“In addition to the funding, the programme also provides training in financial management, marketing, and pitching, as well as mentorship and networking opportunities,” he said.
The CEO emphasised that the programme is not limited to women in technology but rather aims to encourage all women to leverage technology to grow their businesses.
The bank has partnered with Bongo Hive, a local organisation that provides training and empowerment to women and young people, to deliver the WIT programme.
Mr. Zulu commended Bongo Hive for their excellent work in supporting the growth of women-led businesses in Zambia.
As part of the ceremony, Standard Chartered Bank also presented a ceremonial cheque of $500,000 to the Government of Zambia, represented by Vice President W.K. Mutale Nalumango, to support the Women in Tech programme.
The $500,000 investment will be used to further support the WIT programme, promoting entrepreneurship and economic growth among women in Zambia.
13th March, 2025.