Bank Windhoek on Wednesday introduced its new Women in Business financial solution, an investment focused on women-owned and run businesses.
Managing director Baronice Hans said: "Bank Windhoek takes pride in being a catalyst for this as a sustainable opportunity, and is proud to introduce the Women in Business solution. Women are a powerful force in the Namibian economy, and a smart choice for businesses to invest in. As such, our offering focuses on the investment in women-owned and run businesses as a smart business choice."
Hans stated that women who owned and managed businesses have complex and diverse needs, and so often have to juggle many balls while in high heels. The bank thus wants to be the financial services provider that helps them navigate these competing priorities without separating the complementary roles which require dynamic responses.
"We are mothers, we are nurturers, providers, wives, daughters, sisters, chefs, councillors, and we revel in these roles simply because we can; and because we are often more fulfilled as a result. On the other end of the spectrum is our ability to reach our full potential by building the businesses we dream of, contributing to society and leaving a legacy. In essence, doing well while doing good," she added.
Relying on both local and international research studies, Hans said the role of women in the economy cannot be emphasised enough.
"According to the Global Banking Alliance for Women, we have seen that worldwide, women make or influence up to 80% of household buying, that 33% of private businesses are owned and operated by women, and that 80% of women-owned small and medium-sized entrepreneurs with credit needs are unserved or under-served."
"With this unique offering, customers will get a Women in Business current account, one or more savings purse account/s to cater for her various savings needs, tailored insurance benefits, free access to digital payment solutions, free travel insurance, and access to our new Bank Windhoek visa credit card product," she said.
The offering also introduces a bundled fee structure. Women who own their own businesses who choose to switch to the Women in Business financial solution, or new customers taking up the solution, will get a minimum of one savings purse designed to save for future goals, whether it be for her wedding, a holiday, a large purchase, or a child's school fees. These purses also carry favourable interest rates. Customers have the option to add as many purses as they deem necessary.
Bank Windhoek's new credit card offering likewise has added benefits as part of the Women in Business financial offering. The Bank Windhoek visa credit card gives clients flexibility, and offers a 55-day interest-free period on all transactions, free travel insurance and airport lounge access for platinum credit card holders.
"With the Women in Business financial solution, Bank Windhoek acknowledges the important role women play in society, and with this offering, enables them to build both their personal lives and their businesses. That is why we are creating financial offerings dedicated to meeting their needs," she noted.