Inspirational! The First Women Owned Bank In South Africa Underway. Finally this long term dream has become a reality. Young Women in Business Network (YWBN) is in the process of starting the First Women’s Co-operative Bank in South Africa. The bank will focus on professionals, entrepreneurs and business people. Although men are welcome in this investment, the intention is to have at least 60% black women ownership as majority shareholders.
In 2018, Nthabeleng Likotsi, the founder and executive chairperson of YWBN submitted a license application to the Reserve Bank in Pretoria for the YWBN to become a mutual bank. After failing her Certificate in Theory of Accounting (CTAs) several times, Likotsi decided to reach for an even bigger dream of launching the first black women owned bank in South Africa. She and her team have recently been approved for the first of its kind bank in the history of South Africa.
Young Women in Business Network, is a broad based women’s empowerment company, owned, controlled and managed by women from various professions, businesses and industries who are dedicated to the economic empowerment of young women and women in general. The highly talented executive members and its delivery partners possess a wealth of expertise and experience gained from working in various sectors which include management consulting, business and economic development, engineering, entrepreneurship, finance and commerce.
The YWBN is well positioned to collaborate with other partners who have entrepreneurial flair, are innovation focused, resilient and results-driven. YWBN guarantees the promotion of true women empowerment in South Africa through partnering with key delivery partners within its business networks to deliver on high-profile engagements which benefit women-owned enterprises