A new guide from the International Trade Centre offers advice on financing for women-led businesses in Zambia. The guide, created in partnership with the Central Bank of Zambia, aims to improve funding collaboration and create a supportive environment for women entrepreneurs.
Titled Unlocking Finance in Zambia: A woman entrepreneur’s guide, the guide connects the obstacles faced by women-led businesses with available financial products and offers guidelines for success. With more than one-third of small businesses and over 40% of microenterprises in Zambia owned by women entrepreneurs, this guide aims to help them navigate funding options and provides insights for funders interested in using a gender-lens approach.
The guide emphasizes the importance of formalizing a business and creating a business plan to improve the chances of accessing funding. It also outlines different financing types and advises women to calculate the exact amount needed before seeking funding. Additionally, the guide provides details on various financial products and services with a gender lens, as well as alternative funding options in the Zambian market.
Pamela Coke-Hamilton, Executive Director of ITC, highlighted the importance of removing inequalities that hinder women’s participation in trade, improving competitiveness, and strengthening market and investment linkages. The guide is part of the ITC SheTrades Zambia project.