TWB managing director, Margaret Chacha
At least 14bn/- in loans was issued by the Tanzania Women’s Bank (TWB) to over 7,000 small entrepreneurs to help them build their ventures to become more efficient.
This was revealed by the bank’s Managing Director, Margareth Chacha, recently, who also said that the funds were dished out between 2009 and 2012.
“As TWB we normally give loan facilities to customers according to the businesses they operate,” she said.
More focus has been put on women because majority of women’s are the guardians of families and have limited access to short term finances and long term capital—one of the serious problems that face small and medium entrepreneurs in Tanzania, she said.
Apart from that majority of small entrepreneurs don’t have collateral to help them secure credit from financial institutions.
On the other hand, she called on Tanzanian women’s to deposit their money at TWB so that they can benefit from the loan facilities it offers and once they advertise share sales.
“As TWB our focus is largely to help women’s access more loan facilities from the bank and run their business more effectively,” she noted.
Highlighting on TWB’s membership, she said, presently the bank has 30,000 members and it has disbursed loans to the tune of 33bn/- to entrepreneurs for three years.
According to Chacha the main goal is to empower women economically and socially, so that they can move from the informal sector to the formal one, change their livelihood and bring sustainable development to the country.