Ladies and Gentlemen, the Conference is a dissemination and consultation forum aimed at presenting and reviewing the findings of a study on “Women’s Access to Financial Services in Zambia”. This conference is therefore a platform for reflection and consultation among various stakeholders present here today. Bank of Zambia recognises that an insight into the Women’s Access to Financial Services is critical to overcoming existing barriers to financial inclusion and devising appropriate strategies for empowering the women to realise their full economic potential and contribute to as well as benefit from the economic growth that the country is enjoying. It is in this regard that the Bank of Zambia commissioned the study on “Women’s Access to Financial Services in Zambia”. I invited New Faces New Voices to replicate the study on “Women’s Access to Financial Services in Mozambique” that was conducted for the Central Bank of Mozambique in 2013. Ladies and Gentlemen, Specifically, the study is expected to provide in depth understanding on the following two perspectives: 1. Understanding gender perspectives on usage of financial services; levels and trends, sources of finance; formal, semi-formal and informal, financial products provided; credit, savings, insurance, remittances, mobile banking and other financial products and services. The regional distribution; rural versus urban and the awareness versus  BIS central bankers’ speeches  1  understanding and perceptions of access to finance, the constraints, opportunities for financial education, financial decision making process, and household dynamics that confront women. 2.

This study being presented today is, therefore, a welcome opportunity to reflect on the progress since 2009. Financial institutions have a role to play in ensuring financial services and products are available at reasonable terms, including fair and practical know your customer (KYC) assessments, the use of alternative collateral and flexible lines of credit to mention, but a few. To enhance income-generating activities from survival level to strong and viable businesses, in particular for women led enterprises, access to credit, banking and financial services and facilities is essential to fully develop small scale to businesses. The firm, robust and sustainable growth can only be founded on strong and viable Small and Medium Enterprises hence the need to financially empower enterprises is cardinal through financial inclusion. This lack of access to finance by our entrepreneurs is a major concern for both, the Bank of Zambia and Government. Ladies and Gentlemen, Allow me to outline some of the measures the Bank has been putting in place to accelerate access to finance for all citizens generally, and in particular for women The Bank of Zambia is the lead implementer of the Financial Sector Development Plan on behalf of the Government of the Republic of Zambia. As you may be aware, the Zambian government formulated the FSDP as a comprehensive strategy for addressing challenges in the Zambian financial sector. Under the second phase of the FSDP, access to finance by the various strata of society, including access based on gender is identified as a key challenge to be addressed.