CABS targets informal women entrepreneurs

Published: 3 hours ago

CABS has launched a women-focused banking platform, HerNest, aimed at bringing thousands of underserved female entrepreneurs into the formal financial system and strengthening financial inclusion in Zimbabwe.

The product targets women operating small and largely informal businesses, a segment widely recognised as central to the economy but often excluded from formal banking services.

CABS chief finance officer Valerie Muyambo said the initiative is both a social and economic intervention designed to unlock women's potential.

"This launch reflects a deliberate commitment to ensuring that women are not only seen and heard, but are also equipped to lead, grow and transform communities and industries," she said.

The HerNest platform offers transactional and savings accounts designed to support day-to-day money management while also creating pathways to credit access - a key challenge for many women-led enterprises.

CABS head of business banking Tapiwa Rukara said the product was developed following consultations with organisations representing more than 90,000 women entrepreneurs, as well as regional insights into financial inclusion gaps.

Product presenter Afra Faith Zishiri said the platform was designed with simplicity and accessibility in mind.

"Access matters more than pricing; flexibility matters more than complexity," she said.

The launch aligns with broader financial inclusion objectives promoted by the Reserve Bank of Zimbabwe, which has increasingly encouraged financial institutions to develop products that expand access to underserved groups, particularly women.

Analysts say such initiatives could help bridge the gap between policy intentions and real economic participation, especially in a country where women dominate the informal sector but often lack formal financial tools.

Industry observers also note that empowering women entrepreneurs is becoming a growing focus within Zimbabwe's banking sector, as institutions seek both social impact and new growth markets in an evolving economy.
- NewsDay

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