Africa-Press – Zambia. In a move expected to inject fresh momentum into grassroots financial inclusion, Chooma Mwachikoka, a notable resident and entrepreneur in Katuba Constituency, has pledged ongoing financial contributions to women-led village banking cooperatives in the area.
Mr. Mwachikoka made the announcement during the handover of certificates to 25 women’s cooperatives recently recognized for their active participation in village banking. He stated that he will personally top up savings during each cooperative’s end-of-cycle cash-out process, with the goal of amplifying the impact of these community-based savings and lending schemes.
“Village banking has proven to be a vital tool for financial independence among women,” Mwachikoka said. “By committing to these top-ups, I hope to strengthen their financial base and encourage more women to participate in cooperative savings models.”
Village banking, a form of informal financial service built on group savings and micro-lending, has gained popularity in rural Zambia as a means of fostering entrepreneurship and resilience among women.
The initiative comes at a time when the government is scaling up access to economic empowerment programs through the Constituency Development Fund (CDF) and the Citizens Economic Empowerment Commission (CEEC).
Mwachikoka urged women in Katuba to formalize their cooperatives to better access public and private sector funding, highlighting the government’s commitment to gender-responsive economic initiatives under the UPND administration.
Local observers say the pledge could provide a model for public-private synergy in rural economic development. Analysts note that such interventions though small in scale can significantly enhance capital liquidity for women entrepreneurs operating in low-income settings.
The certificate handover event also spotlighted the growing momentum of women’s cooperatives in Katuba, as community-led financial solutions continue to bridge the gap left by limited formal banking infrastructure.
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