The Elderly People’s Association has asked lending institutions in the country to soften up borrowing conditions for small scale businesswomen to enable them access loans.
Elderly People’s Association executive director, Hellen Chasowa, said this Monday in Blantyre when she opened a day-long seminar for small scale business women in Blantyre.
The seminar was attended by 30 participants, including some prominent business people in the country.
Chasowa said the aim of the seminar was to share entrepreneurial skills among members.
“People fail to access loans from the banks because they ask for collateral in form of houses or any property that ordinary rural women cannot afford. Even the interest rates are exorbitant. We, therefore, plead with the lending institutions to soften their conditions,” Chasowa said.
Speaking at the same function, Ntonya International School proprietor, Gloria Mankhwala – who was one of the facilitators, urged women to entrepreneurs to take businesses seriously.
“Business needs to have a sober mind and requires determination. Also avoid unnecessary loans that you cannot afford to repay,” Mankhwala said.
The workshop was funded by Royal Norwegian Embassy with the support from Gender Coordination Network (GCN).