Zimbabwe US$25 million women investment fund launched

Top Zimbabwean Government women leaders on 30 September launched a US$1 million Zimbabwe Women Investment Fund, aimed at mobilising resources to enhance women’s participation in the mainstream economy. They aim to grow the fund to US$25 million within 3 years, according to a report in The Herald newspaper (www.herald.co.zw).
The fund was reportedly initiated by Minister of Regional Integration and International Co-operation Mrs Priscilla Misihairambwi-Mushonga. It will be administered by Commercial Bank of Zimbabwe. The initial capital is to be raised by issuing 100,000 shares at US$10 each.
The “private equity” fund would invest in short- and medium-term projects to provide both income returns and capital growth for members, and its investments could include listed and unlisted companies. Emphasis would also be on ensuring that women at “grassroot” levels benefit.
The trustees are Mrs Misihairambwi-Mushonga, Minister of Women’s Affairs, Gender and Community Development Dr Olivia Muchena, and the co-Minister of Home Affairs Mrs Theresa Makone.
Officially launching the fund, Vice President Joice Mujuru said the initiative was a demonstration that the time for Zimbabwean women to occupy their rightful space in the economy had come: “No non-oil exporting country has ever made the transition from developing country to developed country without the significant empowerment of women. It is quite apparent that the women of Zimbabwe are having a new economic empowerment vision, which can best be facilitated by women accessing financial and other resources.
“The establishment of this fund will facilitate the participation of Zimbabwean women in Africa’s growth, the establishment of a robust financial system and our progression from a developing nation to a global competitive society.”

7 Responses to “Zimbabwe US$25 million women investment fund launched”


  1. Milca Chitsa

    This is a very noble idea for women – how do we get to buy the shares??

  2. Tom Minney

    thanks for the interest. I guess you may start at the CBZ, there is no mention of the fund on its website, http://www.cbz.co.zw, but it has some head office contact details. Otherwise you could try to call one of the Ministers involved and try to talk to their secretaries or someone else in their offices?

  3. Hendrina

    Hie

    This is a good idea ladies. we need more infor here in the Midlands region.
    Thankx

    Hendy

  4. Tindo

    Any developments on the fund. Am a small shareholder,so i need an update. It seems guys from cbz have no information

  5. Tom Minney

    Hi Tindo, I don’t have any more information. However, I would hope that any of the Ministers listed, including those described as Trustees (presumably on behalf of the shareholders) may be able to point you to information, perhaps you can ask their offices. Otherwise, perhaps the Securities and Exchange Commission is the regulator or may be able to point you to the relevant regulatory agency. Good luck and keep us posted on your findings.

  6. tindo

    hie once again. I just overheard that its nw a fixed deposite with an interest of 20% pa. Is this true.

  7. Tom Minney

    Hi Tindo, welcome back and thanks for following up. I don’t see any information about the deposit and rates, but I gather the fund is being run now (since 21 Nov) by CBZ Bank, see this story. 20% on US$ investments would be a good rate, if the money is well managed! Perhaps ask at the bank?