Govt pledges more funds to women’s bank

09Mar 2016
Our Reporter
The Guardian
Govt pledges more funds to women’s bank

DEPUTY Minister for Health, Community Development, the Elderly and Children, Dr Hamis Kigwangalla, has promised to increase capital to the Tanzania Women Bank (TWB) to enable the financial institution to lend to more groups.

Dr Hamis Kigwangalla

He said this during celebrations marking International Women’s Day which was held at Biafra grounds in Kinondoni, Dar es Salaam, where he handed over title deeds for surveyed plots to various entrepreneurs who had already completed to repay their loans.

Dr Kingwangalla said the aim for the establishment of the Tanzania Women Bank (TWB) was to enable women to be able to borrow, develop their businesses and educate their children.

The availability of the bank would help many women to access financial services and raise their capital through loans with low interest rates.

He also gave a directive to the managing director of the institution to introduce microfinance services to various SACCOS in the country so that many Tanzanians could benefit from the services offered by the bank.

He also ordered him to encourage women entrepreneurs to process vegetables which are cultivated in the country and find markets in and outside the country.

He said it was not appropriate for mines to import vegetables while there were enough vegetables in the country.

For her part, the Permanent Secretary in the Ministry of Health, Community Development, the Elderly and Children, Sihaba Mukinga, urged women all over the country to seize the opportunity of getting a loan for surveyed plots from the Tanzania Women Bank (TWB).

She said doing so would enable them to own property and have a title deed which would help them to acquire loans from commercial banks.

She encouraged women to participate in large numbers during the climax of International Women’s Week. She congratulated the TWB for providing surveyed plots in the form of loans in collaboration with Ardhi Plan.

For her part, the chief accountant of the bank, Eliza Mbogo, has assured customers of the financial institution of good quality services such as surveyed plots, cars, motorcycles and bajaj (tri-cycles).

A representative from Corporate Social Responsibility and Empowerment (CSRE), Ms Catherine Riombe, said that women were encouraged to seize opportunities in the country’s mining sector.