MPs raise concern over low visibility of Women’s Microfinance Bank

More than 49 000 women and small-scale entrepreneurs across Zimbabwe have benefited from loans disbursed by the Zimbabwe Women’s Microfinance Bank (ZWMB) since its establishment in 2018, according to a parliamentary report that examined the institution’s performance. However, the same report reveals the bank’s visibility and accessibility remain consistently low across most districts, with about 60 percent of women consulted during field visits unaware of the bank’s existence or its products, seven years after its launch. These findings are contained in the Report of the Portfolio Committee on Women’s Affairs, Community, Small and Medium Enterprises Development on the operations of the Zimbabwe Women’s Microfinance Bank, which evaluated the institution’s impact on women’s economic empowerment since its inception.

According to the committee’s analysis of cumulative loan beneficiaries from 2018 to December 31, 2024, a total of 49 353 beneficiaries received loans through the bank across Zimbabwe’s ten provinces. The data shows the number of beneficiaries fluctuated significantly over the years, peaking in 2019 before declining sharply in later years. In 2018, the bank reached 7 073 beneficiaries, followed by a significant expansion to 14 691 beneficiaries in 2019, the highest number recorded since the institution was launched.

However, the number dropped sharply in subsequent years, with 4 441 beneficiaries in 2020, 6 815 in 2021, and 10 061 in 2022. The decline continued in the most recent years, with 2 137 beneficiaries in 2023 and 4 135 beneficiaries in 2024, highlighting what the committee described as “inconsistent reach and operational challenges” affecting the bank’s ability to sustain lending programmes. A breakdown by province shows Midlands province recorded the highest number of beneficiaries in the early years, particularly in 2018 and 2019.

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In 2018 alone, Midlands accounted for 5 681 beneficiaries, making up the majority of that year’s recipients. The province continued to record high numbers in 2019 with 6 537 beneficiaries, before declining in later years.

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