WOMEN participation in the financial services sector is usually low as compared to their male counterparts. In an effort to address this disparity, the Zimbabwe Women’s Microfinance Bank (ZWMB) was created. NewsDay (ND) reporter Thomas Chidamba spoke to ZWMB chief executive officer Mandas Marikanda (MM) on issues related to women participation in the financial services sector, the challenges and way forward. ND: How much have you disbursed since the bank started, and to how many beneficiaries? MM: We have disbursed above $100 million granted to more than 80 000 beneficiaries. ND: What criteria have you used which makes ZWMB different from other banks? MM: The Women’s Bank understands and responds to the unique needs that have resulted in the exclusion of women, youths, people with disabilities and rural communities of Zimbabwe. The bank understands that every household has needs that require an economic solution. In most cases, the woman is at the forefront of ensuring that Maslow’s hierarchy of basic needs which covers shelter, food, health, clothing and education is met. The bank understands, empathises and crafts solutions to these basic needs. ND: What are some of the success stories that have been recorded so far? MM: Being a new bank with an age-old mandate, the bank has to date opened over 86 000 accounts spread across all 10 provinces and districts of Zimbabwe, making inroads to expand on its outreach breadth and depth by establishing a solid distribution network with the head office and main branch in Harare, offices in Bulawayo, Gweru, Mutare and Masvingo supported by agents countrywide. The introduction of value chains has been a smiling point for most rural women and youths especially value chains in sorghum, castor beans, cotton, sunflower and groundnuts. ND: Usually, there have been challenges of collateral security, especially for ordinary women, how do you circumvent this? MM: The bank notes that security is important to ensure repayments are done. It also recognises availability of alternative security. The bank understands the challenges that women have with collateral requirements and appreciates that everyone has something of value, which includes assets (movable and immovable) as well as social cohesion security. ND: What are some of the major challenges the bank is facing? MM: Demand always outstrips the supply or disbursement of loans. The bank is grateful for the current support and managed growth which ensures a good reputation. There are some who do not expect to repay and often borrow and create hype with the hope of not repaying. We are grateful that the bank has received tremendous support from the highest office and reiterate the need for all who borrow to make good in repayments. The bank is hoping to be assisted by Reserve Bank of Zimbabwe exchange control to find a solid solution to forex transaction support to ensure women fully transact with their bank of choice. ND: What do you value most about women’s participation in the economy? MM: Women’s participation in the economy reduces d