BY GLADYS KILA
In a significant commitment to financial empowerment, the Central provincial government signed a memorandum of understanding with Mama Bank, the region’s pioneering bank dedicated to serving women and small-to-medium enterprises (SMEs).
This partnership aims to boost financial inclusion and literacy among women in Central Province marking a significant step towards economic empowerment and sustainable development.
The signing ceremony, attended by key stakeholders including the Provincial Administrator, was indicated as a long-awaited milestone that had been in the works since last year.
The Governor of Central Province, Rufina Peter expressed gratitude and reiterated the importance of the MOU in addressing the economic needs of women, particularly those engaged in small-scale businesses.
“It’s taken a bit of a while. We should have done it a while ago, but after fine-tuning, we have finally come to this day,” the Governor stated.
The MOU outlines a joint commitment to improve access to financial services for women, enabling them to gain the necessary skills and resources to thrive in their business endeavors. With Mama Bank’s experience in financial inclusion banking, the partnership is poised to deliver comprehensive support to women entrepreneurs.
As expressed by the Governor, “SMEs make such a big component of any economy in terms of their contribution. This partnership is a transformative step toward building a critical mass of entrepreneurs in our region.”
Additionally, the Governor underscored the necessity of setting measurable indicators to monitor the success of the initiative.
“We need indicators to say that we have made a difference. It is essential for us to see tangible outcomes from this partnership,” she stated, highlighting the administration’s focus on accountability and progress.
The partnership also promises to create a supportive environment for women by facilitating access to resources, networks, and training programs.
This is expected to not only empower individual women but also stimulate local economies as they engage in various business ventures.
As the program rolls out, community members are encouraged to participate actively. The Governor urged that, “We are here to leave behind legacies. Our goal is to see a substantial increase in the number of women and families contributing to the local economy.”
During the ceremony Chairman of Mama Bank, Noel Norikgu highlighted the bank’s decade-long mission of supporting women and small business owners.
“We believe in partnering with families, not just women. This partnership with the provincial government represents a significant opportunity to empower all members of the community,” he said,
The focus on financial inclusion is timely, as the Central Province government aims to align itself with national objectives to bolster the SME sector, which is critical for economic independence and job creation
The MOU signing between the Central Province government and Mama Bank is more than just a formal agreement; it marks the beginning of a transformative journey towards economic empowerment for women.
With a shared vision of fostering financial literacy and inclusion, this partnership aims to uplift communities, strengthen families, and ultimately contribute to the socio-economic development of Central Province.