|End-of-day quote - 08/07|
CRDB Bank : Slashes Women Loan Interest to 14pc
|07/03/2020 | 07:06am|
The largest lender move, which received accolades from outgoing Deputy Speaker Dr
CRDB said it want to reach out more women entrepreneurs despite dishing out some 600bn/-at the end of this year's quarter one to over 55,000 women country wide.
"The decrease in interest means it reduces the high burden of loan repayment on women to remain with extra funds for investment in their business and thus leads to success," said
She said researches show that women are contributing considerably in economic development by 54 percent but only 60 percent are reached by banking services.
"I also commended (CRDB) on improving the collateral conditions. This will encourage and entice more women with access credits"
She said the Malkia Account will help them achieve their goals by starting saving small amount of money which will help warrant to receive financial institutions trust.
The country yesterday qualified for middle-income bracket which also was part and parcel of banking industry effort to empower wananchi financially.
"We are proud to be a middle-income country. CRDB continues to empower women and enable (the government) to achieve its national and global goals in equitable participation in development activities," she said.
The activities are outlined in the
CRDB Gropu CEO and Managing Director,
"Some 30,000 women have already open Malkia Account though the number is still low due to high interest charged and stiff security conditions,"
To further enable women entrepreneur in realising their goals, the bank also embarked on education programme by introducing 'Malkia Rafiki' [
"When at our branch, please, asks for
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