caleb m fundanga : equal rights, equal opportunities – progress for all opening remarks by dr caleb m fundanga, governor of the bank of zambia, at the official launch of the financial institutions ’ exhibition and workshop in commemoration of international women ’ s day 2010, lusaka, 5 march 2010. * * * the deputy permanent secretary, gender and women in development, ms christine kalamwina ; the international labour organisation country director, mr gerry finnegan ; the deputy governor – administration, bank of zambia, dr tukiya kankasa - mabula ; chief executives and representatives of exhibiting institutions ; heads of non governmental organisations ; distinguished invited guests ; members of the press ; ladies and gentlemen it is my honour and privilege to participate in the launch of this important exhibition by financial institutions in commemoration of the international women ’ s day for 2010 under the global theme “ equal rights, equal opportunities : progress for all. ” ladies and gentlemen, as you may be aware, the international year for women was declared by the united nations in 1975. since then many countries world over celebrate international women ’ s day to recognise the achievements of women without regard to national, ethnic, cultural, economic or political divisions. international women ’ s day is an occasion to look back on past struggles and accomplishments but even more importantly a time to look ahead to untapped potential and opportunities that await future generations of women. each year on this special day, hundreds of international women ’ s day events occur all around the world. the events range from small random informal gatherings to large - scale highly organised events to celebrate women ’ s advancement while highlighting the need for continued vigilance and action. a good number of governments around the world, have made commitments to promote gender equality, by among other things, taking initiatives to integrate gender perspectives into national budgets or development plans in order to reflect the differentiated needs of women and men. zambia is no exception. in zambia, it is recognised that the creation of the ministry of gender and women in development, is a deliberate effort by the government to ensure that the needs of women are addressed. through the ministry we are able to recognise the strides that have been made by women in national development and we look ahead to the challenges that are before us as we strive to achieve our goal of gender equality. in addition, zambia is a signatory to the sadc declaration on gender and development. this declaration calls for the equal representation of women and men in the decision making process of member states at all

levels. i must concede here that, although we have made significant strides as a country in women representation, more still needs to be done. we are however encouraged that there are a good number of women with potential and ability to rise above any form of challenge. we need to use our national development plans as a platform to achieve our vision to be a prosperous middle income country by 2030, by equally empowering both women and men. indeed, without the participation of women, who make up more than 50 % of zambia ’ s population, it will not be possible to achieve our vision 2030. distinguished participants, as you are well aware, over the last decade, zambia has recorded positive economic growth averaging 5 % – 6 % per annum. the macroeconomic environment has improved with the achievement of low levels of inflation, a relatively stable exchange rate as well as reduced interest rates. in addition, we have seen increased investments in the mining, construction and other productive sectors. this improved environment presents great opportunities for our women to realise their economic potential. however, women can only realise their true potential, if they have access to education and play a full role in the decision - making processes at all levels of society. fact, in the developmental process, women often take centre stage in the running of small and medium - scale enterprises ranging from agriculture, mining and tourism to manufacturing as well as cross border trading. however, in order to grow these businesses, access to affordable financing is pertinent. the role played by the various players in the financial sector can, therefore, not be over - emphasized as businesses depend on a safe place to save money, maintain working capital and also access loan facilities. ladies and gentlemen, the 2005 finscope survey conducted under the financial sector development plan ( fsdp ) confirmed that levels of access to financial services in zambia are extremely low. only one third of zambia ’ s adult population was reported to have had access to a financial service or product. further, fewer than 15 % of adult zambians were reported to have access to commercial banks. the survey further indicated that only 11. 6 % of women are banked compared to 17. 5 % of banked men whilst 82 % of women have never had a bank account compared to 73 % for men. a follow on update survey was undertaken in 2009 and the results are expected to be launched during the second quarter of 2010. however, preliminary analysis indicates that the levels of access still remain low. this is no doubt