Speaking over the weekend at the launch of the facility Meatu District Administrative Secretary (DAS) Albert Rutaiwa commended the Bangladesh-based organisation for the move to open a branch in the district, saying it will increase access to finance to women engaged in entrepreneurship activities.
“I sincerely request you to inform women in need of financial assistance to enable them to make informed decisions while opting to get a loan from BRAC,” he said.
“I urge women to take the loans to undertake development initiatives like businesses to generate income, and hence attain financial empowerment from the financial institution that we have just launched,” added Rutaiwa.
The regional manager for BRAC Tanzania Finance Ltd, Elizabeth Okama said they are looking forward to supporting the economic activities of Meatu residents through access to credit facilities especially to women who are the primary focus of the organization.
“Women are the backbone of our society, and our mission is to ensure we empower them economically. Our collateral-free loan offering is specifically designed for women entrepreneurs and farmers because we understand the challenges of women in accessing credit services. It is our greatest hope that through our loan offerings they may realize their goals socially and economically,” the regional manager said.
BRAC organization is striving to provide inclusive financial services in a way that is accessible and convenient, and tailored to the local needs of its clients.
BRAC boasts 155 branches which are in 83 districts in 23 out of 26 regions in Tanzania mainland and Zanzibar.
BRAC prides itself on being a big supporter of women entrepreneurs and farmers with over 97 percent of its client base being women. BRAC also offers an individual loan to both male and female clients of medium-sized businesses which requires collateral.
BRAC’s mission is to provide a range of financial services responsibly to people at the bottom of the pyramid, especially women living in poverty in rural and hard-to-reach areas, to create self-employment opportunities, build financial resilience, and promote women’s entrepreneurial spirit by empowering them economically.