Women's Savings Clubs Struggle Under Weight of Zimbabwe's Unstable Currency: Zimbabwe
Women's savings clubs contributed monthly instalments of anything from as little as USD5, and from this pool, the club operated as an informal bank or microfinance lender where they issued loans at a small interest.
And this was also a time when local banks encouraged women's clubs to partner with registered financial institutions to incubate their savings and earn interest at the end of the year., financial institutions that remain are not known to offer ordinary account holders interest on their savings.is making the operation of women's savings clubs increasingly difficult, says Mavis Dube, who formerly led a group of women's clubs as their treasurer.
While the Ministry of Women Affairs, Community, Small and Medium Enterprises Development has made efforts to encourage women's participation in the country's economic development agenda, it has struggled to keep up with the increasing number of women seeking assistance to start their own businesses.
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