TWB set to improve services by reaching rural areas,increasing centre

01Aug 2016
The Guardian Reporter
The Guardian
TWB set to improve services by reaching rural areas,increasing centre

TANZANIA Women Bank (TWB) is seeking to improve its services by extending banking operations to rural areas using centres that are being established in every region.

Speaking with reporters in her office in Dar es Salaam yesterday, a TWB accountant at Kariakoo branch, Elizabeth Mbogo, said the aim of improving their services was to enable entrepreneurs to access various types of loans as capital for developing or expanding their businesses.

“The credit which is being provided by TWB to entrepreneurs comes in the form of car and businessloans, pickups loans, surveyed plots which are in various areas of Tanzania as well as motorbike (bodaboda) loans.

The bank has been providing frequent training to entrepreneurs to build capacity for Small and Medium Entrepreneurs (SMEs) to enable them run their businesses profitably as well asshow them ways of accessing markets for their products,” said Mbogo.

She called upon entrepreneurs to seize the opportunity provided by her bank to open accountsto enable themto access loans so as to liberate themselves from excessive poverty and establish small income-generating businesses.

The aim of the bank is to ensure that every customer gets quality services. Although the financial institution is called a women’s bank, it also encourages men to open accounts and request for loans.

She listed TWB the bank’s branches in Dar es Salaam as the headquarters, which is situated in MkwepuStreet and another branch in Kariakoo. In regions the bank hascentres which provide banking services.

The bank has helped to support women and men to benefit from loans which have minimal conditions as well as low interest rates.

She also congratulated the managing director of the bank, MargarethChacha, for her efforts to sensitise both men and women to join the bank. The bank also provided training for entrepreneurs to enable them to raise their capital through profitable business.

Margareth also has been convening frequent meetings to educate entrepreneurs on how to keep financial records to avoid incurring losses when they borrow money from the bank.

Some of the bank’centres are in Iringa, Njombe, Ruvuma, Mbeya, Dodoma, Mwanza, Kinondoni, Ilala and Temeke.
The accounts which are operated by the bank includeMalaikaLoan, Tanzanite Mama, TabasamuAccount, MaleziAccount, Business Account and Fixed Account.

To cope with competition, thebank has been improving services. It has lowered interest rates from 12.5 per cent to 5 per cent from which entrepreneurs will benefit significantly. The government has decided to support the bank by giving it subsidies which will help it in its operations.