In Focus: Some policies, schemes, funding and steps that can help Zambia’s women entrepreneurs
#ZambiaSheLeads #WomenInBusinessZM #EmpowerZambianWomen
#ShepreneurAfrica #FromHustleToThrive
Welcome to “The Real Africa” – Zambia. With its untamed wilderness, thundering Victoria Falls, and vibrant culture, Zambia isn’t just a land of scenic beauty, but it is a land of bold possibilities. And right at the centre of this economic and cultural renaissance are Zambia’s women entrepreneurs – resilient, resourceful & ready to rise.
From running bustling market stalls to launching tech ventures and agro-based startups, Zambian women are rewriting the rules of business. Now they own over a third of the country’s small businesses and lead more than 40% of its microenterprises. Yet, beneath this success lies a tough terrain – cultural expectations, lack of access to capital, limited financial literacy & inadequate policy support often create invisible barriers.
But here’s the good news: change is underway.
The Resource Revolution Powering Zambian Women
A wave of initiatives is now targeting these very gaps. From gender-lens investing and women-centric funding programs to simplified business registration support, Zambia is building a more inclusive entrepreneurial ecosystem. Resources like startup toolkits, funding guides, and formalization steps are empowering women to turn passion into profit – sustainably and strategically.
How Zambia’s Women Entrepreneurs are Redefining Success
For Zambian women dreaming of scaling their hustle, the key lies in getting formal, getting funded & getting future-ready. And for investors or policymakers, this is the moment to back women-led enterprises, because when Zambian women succeed, whole communities thrive.
Here we uncover the resources, support systems, funding and steps that can help Zambia’s women entrepreneurs go from ground-up to game-changer.
- Policies to empower women entrepreneurs
Zambia is actively implementing policies to empower women entrepreneurs, focusing on financial inclusion, skills development, and market access. Key initiatives include – the Women’s Entrepreneurship Development Program (WEDP), the SheTrades Zambia project, and the Citizens Economic Empowerment Fund. These programmes aim to – provide women with the resources, training & support needed to set up and grow successful businesses.
So, in promoting gender equality and the empowerment of women and girls, Zambia has strengthened the policy and legal frameworks.
The National Gender Policy was revised in 2014 to ensure the attainment of gender equality in the development processes. The Policy further provides for equal opportunities for women and men – to actively participate and contribute to national development. With regards to the legal framework, the Constitution (Amendment) Act No. 2 of 2016 confirms the equal worth of women and men and their rights – to freely participate in, determine and build a sustainable political, legal, economic and social order.
The Constitution provides for values and national principles which include equity, equality and non-discrimination. The enactment of the Gender Equity and Equality Act of 2015, strengthen the legal framework for the elimination of all forms of discrimination against women and girls; empowers women to participate fully in public and private affairs of the country.
The country has observed a positive trend in the gender inequality index which has continued to fall from 0.627 in 2011 to 0.587 in 2015 and 0.526 in 2016. However, the high poverty levels among females in relation to males point to the limited participation of girls and women in political, social and economic activities of the country.
The country continues to record significant improvements in the health and wellbeing of women and girls.
The National Financial Inclusion Strategy 2017-2022
The Government launched the National Financial Inclusion Strategy (NFIS) in November 2017, and the main goal is to ‘achieve universal access to and usage of a broad range of quality and affordable financial services that meet the needs of individuals and enterprises’.
The overall high-level targets for the NFIS were to have 80 percent of the population financially included (formally and/or informally) and 70 percent of the adult population formally financially included by 2022. The strategy would help to bring the unbanked and under-served population into the formal financial system by among others, exploiting technological advancements which have created opportunities for expanding access and usage of financial services.
In line with the strategy, the Bank of Zambia has set specific targets in its 2016-19 strategic plan to increase formal financial inclusion from 59.3% in 2015 to 75.3% by 2019.
The National Assembly of Zambia Strategic Plan 2022-2026
The National Assembly of Zambia Strategic Plan 2022-2026 is the third Strategic Plan the Institution will implement after the 2004-2012 and the 2015-2021 Strategic plans. The National Assembly of Zambia Strategic Plan 2022-2026 builds on the gains achieved and lessons drawn from the two earlier plans.
The National Assembly of Zambia Strategic Plan 2022-2026 exemplifies the collective will of the Zambian Parliament to step up and reform. Building on the gains of the previous strategic plans, it sets in motion key strategic reform areas aimed at attaining its vision of being a Legislature that is more responsive to the people’s needs and aspirations. The Constitution of Zambia has bestowed on the Institution four broad functions, namely law making, citizen representation, provision of oversight and scrutiny of Executive functions, and Budget approval.
The National Assembly has also refined its vision and mission statements – in order to align them to its roles, as defined in the Constitution, as well as with the expectations of the public, that is in sync with tenets of good democratic governance. The areas of strategic focus also reflect the Institution’s desire to continue on the trajectory of transformation and modernization.
The Vision Statement: A Legislature that is more responsive to the people’s needs and aspirations.
The Mission Statement: To execute the legislative, oversight, representative and budgetary functions for enhanced democratic governance.
This Strategic Plan provides the policy direction for the Institution for the period 2022 to 2026. The overall goal is to effectively contribute to enhanced democratic governance for sustainable development. This will be achieved through focus on three key strategic pillars – the parliamentary functions, public participation and administrative service delivery. In the performance of its constitutional mandate, the National Assembly recognizes the key role that the public plays in enhancing democratic governance.
As a result, the implementation of this Strategic Plan extends beyond the National Assembly and represents its collective promise of service delivery to the citizens of Zambia. The Strategic Plan is ultimately owned by all the people who are represented in the National Assembly by their Members of Parliament.
https://www.boz.zm/policies-and-strategies.htm
https://www.parliament.gov.zm/sites/default/files/documents/pages/Strategic%20Plan%202022-2026.pdf
- Some more specific policies & initiatives
Here are listed some more specific policies and initiatives:
National Financial Inclusion Strategies: Zambia’s National Financial Inclusion Strategies (2017-2023 & 2024-2028) prioritize boosting women’s financial inclusion and entrepreneurial skills.
Citizens Economic Empowerment Fund: This fund provides financial resources to entrepreneurs, including women, to develop their businesses.
Credit access and financial inclusion: Zambia has implemented policies like a moveable property registry system to enable women to qualify for loans using moveable assets as collateral, and it promotes the use of Digital Financial Services (DFS) for women.
Gender-sensitive financial products and services: Financial service providers are encouraged to develop more gender-centric products and services.
Capacity building and skills development: Initiatives like the Women Empowerment and Micro Small Enterprise Support project provide business training and mentorship to women and youth.
Promoting women’s participation in trade: The government is working to address barriers that inhibit women’s economic potential, particularly in sectors like agriculture and textiles.
Political representation and leadership: Zambia has initiatives like the Women at Work Project, which aims to increase leadership capacity among young women, and the “Count-Her-In” campaign to encourage women candidates in elections.
These policies and initiatives demonstrate a commitment to creating a more inclusive and supportive environment for women entrepreneurs in Zambia, enabling them to contribute more fully to the country’s economic development.
- International Trade Centre Guide
Women-led businesses in Zambia can find advice on financing in this new International Trade Centre guide.
Greater collaboration between business owners and funders can improve funding and build an enabling environment for greater access to finance for women-led businesses in Zambia. This new ITC guide, created in partnership with the Central Bank of Zambia, is a step towards creating that supportive environment.
Unlocking Finance in Zambia
This woman entrepreneur’s guide, points out many obstacles that women-led businesses face, financial products and services available, and guidelines for success. The guide outlines financing types available and how to identify the most appropriate option. One key recommendation: to calculate the exact amount needed before embarking on their search. Developing a business plan will also give these women confidence in their ability to repay in a timely manner.
The guide also highlights financial products and services with a gender lens, as well as alternatives in the Zambian market. It outlines – funding options, including contact details, qualifying requirements, details on how to apply, documents needed and repayment terms. By providing a comprehensive catalogue of available resources, the guide equips women business owners to make informed decisions about their growth strategies.
The guide was produced as a part of the ITC SheTrades Zambia project.
https://www.intracen.org/news-and-events/news/unlocking-finance-for-women-in-zambia
- SheTrades Zambia
The SheTrades Zambia project seeks to enable Zambian women – to benefit from economic participation, focusing on agricultural and textiles & apparel value chains.
The objective is – to increase the participation of women-led businesses in trade by improving their competitiveness & strengthening their market and investment linkages. Within the framework of the International Trade Centre’s SheTrades Initiative, the project will work with key public and private stakeholders to address issues that are inhibiting Zambian women from fulfilling their economic potential.
Funded by EIF and ITC, the project will leverage the expertise and networks of ITC SheTrades and EIF to promote the economic empowerment of women entrepreneurs. The project will be implemented in collaboration with the Ministry of Trade, Commerce and Industry, and the Zambia Development Agency (ZDA) as well as making use of networks of institutional and private sector partners such as the Zambia Federation of Associations of Women in Business (ZFAWIB), Access Bank Zambia, DHL Zambia and Stanbic Bank.
- Graça Machel Trust
The Graça Machel Trust’s Women Creating Wealth-Intergenerational (WCW-I) edition, in partnership with the MasterCard Foundation, is designed to build women entrepreneurs’ confidence, skills & networks – to scale their businesses and help transition from income generation to wealth creation.
More than a programme, it’s a movement that aims to transform Africa’s economies through meaningful support to women entrepreneurs.
Africa stands as a global leader in female entrepreneurship, with women constituting 58% of the continent’s self-employed population. Despite this, a recent World Bank report, ‘Profiting from Parity’, reveals that women entrepreneurs in sub-Saharan Africa face challenges in achieving substantial profits and scaling their businesses. The pivotal role of Small, Medium, and Micro Enterprises (SMMEs) in Africa cannot be overstated. These businesses are vital engines for – job creation, economic growth & poverty reduction. In diverse sectors such as agriculture, technology, and services, SMMEs contribute to skill development and inclusive progress.
The Graça Machel Trust, in partnership with strategic allies, aims to reshape the narrative around African women entrepreneurs, envisioning thriving businesses that generate wealth and employment. Extensive research underscores the transformative impact of money in the hands of women, addressing poverty and inequality. As women amass wealth, they actively contribute to achieving at least six Sustainable Development Goals including – poverty eradication, hunger elimination, health promotion, gender equality, decent work & economic growth. Through this dedication, the Trust seeks to empower women as catalysts for Africa’s economic and social transformation.
So, if you are thinking of moving into entrepreneurship, apply here.
https://gracamacheltrust.org/wcw-campaign/
- Women Entrepreneurship Development Association of Zambia (WEDAZ)
WEDAZ’s main objective is – to stimulate the economic empowerment of women and youth in Zambia through skills and business management training and the provision of funding and marketing support to micro-entrepreneurs.
It achieves this goal by: providing entrepreneurship and skills training to members; providing credit to individual members and women’s groups for income-generating activities; promoting the development of women entrepreneurs by providing a networking forum, and providing support to community social groups on women’s & children’s rights.
- The Women Entrepreneurs Finance Initiative (We-Fi)
The Women Entrepreneurs Finance Initiative (We-Fi) supports women entrepreneurs by scaling up access to financial products and services, building capacity, expanding networks, offering mentors, and providing opportunities to link with domestic and global markets.
In partnership with the Bank of Zambia, the local Ministry of Commerce, Trade and Industry, and the Ministry of Finance, the World Bank and We-Fi aim – to build the capacity of women entrepreneurs and catalyze access to finance for WSMEs in Zambia.
The project will design and implement private sector interventions to narrow the gender gap in access to financial services, and promote women’s entrepreneurship, a key priority of the Zambian government.
We-Fi funds will support the following key project activities:
· to incorporate gender-friendly components in secured transaction and collateral registry projects;
· to pilot the expansion of movable asset-based credit products;
· to build WSME capacity in financial management, soft skills, and access to networks; and
· to provide advisory inputs on creating an enabling environment for fintech-based credit solutions.
And what is the impact? The Zambia World Bank We-Fi project is expected to reduce the gender bias in credit decisions, build the capacity of public sector institutions, and boost the capacity of WSMEs to access credit, thereby delivering both supply- and demand-side impact on access to finance for WSMEs in Zambia.
https://we-fi.org/project/zambia-supporting-wsmes-access-to-finance-and-capacity-building
- Bank of Zambia
The Bank of Zambia has changed the way we think about women’s economic participation. If we want to have thriving communities and innovative economies, we need to support Women-led MSMEs (WMSMEs).
Here’s how they do it:
Zambia’s two National Financial Inclusion Strategies (2017-2023 & 2024-2028) prioritized boosting women’s financial inclusion and entrepreneurial skills. This played a critical role in changing mindsets about women’s economic potential and in ensuring that future policies are formulated and implemented with a gender lens.
Their credit reporting system enables women to build up credit histories and get easy, affordable access to loans.
The adoption of a moveable property registry system allows women to qualify for credit using moveable property, rather than fixed assets or land as collateral.
They promote the use of Digital Financial Services (DFS) among women. It helps them keep their resources safe and allows them to transact directly from their homes – an important feature for women juggling business and family needs.
As a Service Provider, they have launched a self-check tool for financial service providers to encourage them to take better care of their women clientele by providing more gender-centric products and services.
And the results seem encouraging. Today, over 60% of Zambia’s MSMEs are led by women. They have also seen that the percentage of the total loan value represented by women’s loans has increased from 18 percent in 2020 to 23 percent in 2023. Financial service providers have set up women’s desks, selling products specifically tailored for their women clientele’s needs. And the financial inclusion gender gap is narrowing, currently standing at less than 3%.
https://www.afi-global.org/opinion/women-are-leading-zambias-msme-sector-heres-how-it-happened/
- Lupiya
Fintech has emerged as a pivotal force in Zambia – bridging the gap between traditional financial services and the unbanked population. According to the Zambian Financial Sector Development Policy, over 60% of Zambians are now utilizing digital financial services, a significant increase from just a decade ago. This growth reflects the country’s embrace of innovative financial solutions tailored to meet local needs.
One of the prominent success stories in Zambia’s fintech arena is Lupiya, a digital microfinance platform co-founded by a visionary female entrepreneur. Lupiya addresses the challenges faced by individuals and small businesses in accessing credit, particularly in underserved communities. By leveraging technology, the platform has streamlined the loan application process – making it more accessible and efficient for users across the country.
The success of platforms like Lupiya highlights the transformative potential of fintech in Zambia. The platform’s mission is – to provide financial services that cater to the unique needs of Zambians, enabling them to achieve their goals and contribute to the economy. Such initiatives are creating ripple effects, encouraging the growth of other startups that address real societal needs.
Women entrepreneurs in Zambia are making significant strides in various sectors, from agriculture and retail to tech and education.
The role of women-led enterprises in Zambia’s economic development cannot be overstated. Studies show that businesses led by women – are more likely to reinvest in their communities, creating jobs and fostering sustainable growth.
- The JAMII Femmes initiative
The Women In Africa (WIA) and The Coca-Cola Foundation joined forces on May 1, 2022 to support 20,000 African women entrepreneurs over the next three years – through the “JAMII Femmes” initiative.
The JAMII Femmes initiative aims to increase the impact of African women entrepreneurs on the African economy and support the creation of innovative solutions – for sustainable development that will contribute to positive change in Africa by improving the quality of life of tens of thousands of people.
The programme will give participants lifetime access to the WIA network, and thus, to potential collaborators throughout Africa.
WIA will create an Advisory Council for each country, composed of local personalities who will accompany the programme. Therefore, women entrepreneurs will be able to be in contact with these prominent personalities. They will be highlighted on WIA’s social media throughout the programme.
- The African Women In Business Initiative (AWIB)
The African Women In Business Initiative (AWIB) responds to the The African Development Bank’s Private Sector Development Strategy emphasis on the role of women in business as well as to calls to empower women entrepreneurs, in particular SMEs, through better access to finance.
In this respect, the Private Sector and Microfinance Department (OPSM) has developed under the Initiative, integrated financing programs for women’s entrepreneurship development in order to:
- contribute to a more equitable business environment for women entrepreneurs and enhance their contribution to economic development;
- develop SME financing instruments and mechanisms to enhance the financial market and assist successful SMEs to grow their enterprises.
AWIB will endeavor to develop and work with initiatives that help to foster a strong entrepreneurial culture, make self-employment attractive and enhance entrepreneurship training at all levels of schooling. Specific measures and actions include:
- Helping to design the government’s framework for entrepreneurship development programs, with special features for women;
- Promoting the development of appropriate business structures for women and develop Business Incubators attached to technical schools and universities;
- Incorporating entrepreneurship development courses in university curricula;
- Creating a Business Idea Competition – to promote learning, competitiveness and networks creation and reinforcement; and
- Assessing the feasibility of an African Training Institute Hub for Women Entrepreneurs with the aim to develop a two-way information and knowledge center.
- A Woman Entrepreneur’s Guide – to unlock Finance
Choosing which funding instrument to use will depend on what is available and the state of the business.
Women can access grants, if possible, because they are the cheapest form of funding. Equity financing involves selling part of one’s company. This may seem like an inexpensive source of finance, but the business owner will need to share profits with their equity partner.
A variety of loans are available in Zambia; and longer-term loans generally need collateral to secure the loan. Some companies in Zambia can source angel investors, but business owners should be aware of the cost of this funding before accepting it. If the business is not registered, these options may not be available and may push the owner towards informal mechanisms.
Women entrepreneurs in Zambia use chilimbas or savings groups. Because these groups are not regulated, there is some risk attached to using them. This chapter outlines questions to ask before joining a chilimba or savings group to reduce the risk. Obtaining a loan from a savings group will generally be less onerous than from a formal financial institution. The other participants in the savings group may also serve as a useful resource for the company for identifying suppliers and customers. Another option is to use government funding, for example through the Constituency Development Fund. Application processes take time for these funds, so other options may be needed while the adjudication takes place.
The guide highlights financial products and services that have a gender lens, it also acknowledges the presence of other funding options in the Zambian market. Chapter 3 is a comprehensive guide to the funding available in Zambia for both women-owned businesses and the general population. It provides a description of the funding, contact details, information on who qualifies, details on how to apply and what documents are needed, how much funding a company can obtain, and under what terms. The guide covers private and government sources of funding and concessional financing offered by some development partners. By providing a comprehensive catalogue of available funding sources, the guide equips women business owners to make informed decisions about their funding strategies.
The guide emphasizes that both business owners and funders have a role play in improving funding processes. It calls for increased collaboration among these stakeholders to address the challenges specific to women entrepreneurs.
Recommendations for business owners and funders are provided in Chapter 4. By working together, they can create an enabling environment for greater access to funding for women-owned businesses in Zambia.
Their recommendations for women business owners are:
– Build their network;
– Know their numbers;
– Find a mentor to offer guidance and support about funding when needed;
– Keep financial records up to date;
– Explore different funding options because some take longer than others;
– Learn from each unsuccessful funding application;
This guide aims to be a valuable resource for women business owners in Zambia. By addressing the barriers they face in accessing capital, providing an overview of funding options and offering practical advice, the guide equips women entrepreneurs to successfully pursue their business growth aspirations. Collaboration between business owners and funders can foster an environment that supports and promotes women’s access to funding.
https://www.boz.zm/Unlocking_Finance_in_Zambia.pdf
- Empowerment and Micro Small Enterprise Support Project
On February 26, 2025, the Women Empowerment and Micro Small Enterprise Support Project was officially launched in Lusaka.
This initiative, funded by the Delegation of the European Union (EU) to Zambia and COMESA and the Swedish Embassy in Lusaka, aims to empower women and youth in eight communities by providing business training, mentorship, and access to credit facilities. Implemented by We Effect in partnership with ChildFund and Civic Forum for Housing and Habitat Zambia (CFHHZ), the project seeks to support 24,000 beneficiaries (90% of whom are women) – over the next three years and six months.
The project is part of the Lusaka Transmission Distribution Rehabilitation Project (LTDRP) and focuses on helping women entrepreneurs leverage access to electricity to build and sustain profitable businesses.
This project will help ensure women and youth-led businesses are equipped with the necessary resources to thrive. The government is actively revising MSME and cooperative policies to create an enabling environment for startups and small businesses.
The launch of this initiative marks a major step in Zambia’s journey towards economic inclusion, helping address financial barriers, improving business skills, and leveraging energy access. The Women Empowerment and Micro Small Enterprise Support Project is set to change the landscape of women’s entrepreneurship in Zambia through its unique and inclusive approach.
- The United States Embassy in Zambia
The United States Embassy in Zambia has been actively promoting entrepreneurship to meet their goal of sustained, broad-based, and inclusive economic prosperity in Zambia.
Zambia Entrepreneurship Summit
Held annually in Lusaka since 2015, in collaboration with the Women’s Entrepreneurship Access Center (WEAC, formerly WECREATE) and other partners, the summit brought together investors, entrepreneurs, resource providers and international and Zambian development agencies – for a full-day program to explore business deals, partnerships, access to capital, business discussions, and networking.
Academy for Women Entrepreneurs
Launched in 2019, this is an entrepreneurship training and mentorship program supported by the U.S. State Department’s Bureau of Educational and Cultural Affairs to advance women’s economic empowerment around the world. More than 700 women in Zambia have participated since the AWE program launched. The women have been empowered with the skills they need to start and grow their businesses. As a U.S. government exchange program, AWE connects women with U.S.-style learning and expertise to advance business acumen and build stronger ties among women entrepreneurs.
Professional Exchange Programs
The US Embassy identifies and nominates promising young Zambian entrepreneurs to participate in business leadership training through U.S. professional exchange programs, including the Young African Leaders Initiative (YALI), Mandela Washington Fellowship, and International Visitor Leadership Program. Since 2014, more than 50 Zambians have participated in the Business and Entrepreneurship track of the Mandela Washington Fellowship program.
American Spaces Entrepreneurship Events and Programs
American Spaces in Zambia (comprising American Center Lusaka located at U.S. Embassy Lusaka, the American Corner at NIPA main campus in Lusaka and the American Corner at Copperbelt University (CBU) in Kitwe) are free public spaces that provide additional continuity and engagement on entrepreneurship with our Zambia audiences. American Spaces host free entrepreneurship talks, presentations, workshops and other activities for the benefit of youth, women, students and other Zambians interested in entrepreneurship. The American Corners at NIPA in Lusaka and CBU in Kitwe offer MakerSpace programs to help build innovation and entrepreneurial skills among young Zambians. Other current entrepreneurship programs include – “Small Business Academy for Youth Leaders” at American Corner NIPA and CBU, which seeks to empower female university students with leadership and business skills as they prepare for future careers. The program is run by She Entrepreneur, an NGO focused on young female entrepreneurs, with American Spaces grant support. With American Spaces/U.S. Embassy grant support, NGO Benchfilms Zambia is running “Be the Boss,” an entrepreneurship program for creative professionals to help them translate their skills in art, music, design, film, and culinary arts into businesses through mentorship and networking. The program is conducted at American Corner NIPA. In addition, Copperbelt Innovation and Technology Limited, with Embassy grant support, runs techpreneurship camps that provide key technology skills to young entrepreneurs and create economic opportunities in the tech space in partnership with the American Corner CBU.
In Zambia, entrepreneurs indeed, have an essential role to play in the country’s development. Their successful businesses are a central facet in diversifying and expanding Zambia’s economy, an economic goal of the “New Dawn” Government of the Republic of Zambia. Entrepreneurship can also create a culture in which innovation and creativity are valued and lead to original solutions to life’s challenges.
Avtar Madan
Shree Lahiri
Himanshu
