Stanbic tackles knowledge gap in women’s banking market

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The Global Banking Alliance (GBA) for Women will be holding its All-Stars Academy programme in Cape Town from June 25 to 29, 2018, with Stanbic Bank Head of Women’s Banking delivering a keynote speech.

A global consortium of financial institutions, the GBA for Women offers support to banks to financially empower women, close the gender gap and help banks profit from the multi-trillion-dollar female economy. GBA members take advantage of peer learning, access to research and knowledge sharing, empowering banks worldwide to better serve female clients.

Stanbic Bank became the first Zambian financial institution to join the Global Banking Alliance for Women, in early 2017. The bank’s innovative Anakazi Banking programme aims to enhance women’s involvement in business and entrepreneurship.

The five-day All-Stars Academy is a course designed to teach financial services professionals the tools to bring female-focussed financial products and services to market.

The Academy builds on the GBA’s world-class peer-learning activities, featuring experienced guest lecturers from member banks with successful female-focussed programmes. The delegates – including Stanbic Bank staff – will gain expertise in developing and implementing strong, sustainable programmes aimed at women.

Stanbic Bank head of public relations and women’s banking, Chanda Katongo, said through GBA membership, Stanbic had found great value in access to the extensive network of global organisations with the expertise and experience necessary to launch and embed a successful women’s market proposition.

Katongo, who will be one of the keynote speakers at the All-Stars Academy, said: “Women make up about 50.5 percent of the adult population in urban Zambia, yet they represent 53 percent of the country’s financially-excluded population. In addition, Findex data shows only 30% of women over the age of 15 use formal financial services.

“As a bank that seeks to make a difference in people’s lives and drive the country’s growth, it is our responsibility to help steer these figures into a more positive direction.”

With this in mind, the bank created its Anakazi Banking programme.

The All Stars academy programme is ideal for GBA bank members in the early stages of developing female-centric financial programmes, as well as those banks considering introducing programmes to attract the 73 percent of women globally who cannot access high quality financial services.

The GBA comprises a diverse selection of members, from small financial institutions to regional players and large commercial banks. Members work all over the world, helping each other build profitable, sustainable women’s market programmes as they strive to boost the female economy.

The service is focused on delivering the tools women need to succeed in business, including easier access to convenient banking, finance and business knowledge. It involves intensive training, mentoring and networking events to build knowledge in management and access to markets, and help women set up businesses.

Stanbic’s participation in this year’s All-Stars Academy supplements the bank’s quest to serve women as individual customers, targeting students, civil servants and women professionals in personal, corporate and commercial banking under the Women’s Banking initiative.

Katongo said: “One of our main goals under women’s banking is to build the capacity for female professionals, which ties in nicely with the intended outcome of the All-Stars Academy.

“The aim of the course is to impart participants with an understanding of the key elements of a ‘women’s market strategy’ and best practices to support implementation through an immersive and interactive programme.

“Further, participants from GBA member institutions will also have the option of joining the alliance’s mentoring program to form a cohort to maintain network support,” she concluded.

The Global Alliance Bank for Women All-Stars Academy has been organised by the GBA in partnership with the International Finance Corporation (IFC), the International Development Research Centre (IDRC) and the Dutch Entrepreneurial Development Bank (FMO).

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Start: 2019-07-01 End: 2019-07-31