Tanzania women get $12m in loans

News 

Saturday, May 17, 2014 

BY KENAN KALAGHO, EAST AFRICAN BUSINESS WEEK, KAMPALA, UGANDA

DAR ES SALAAM, Tanzania - Tanzania Women’s Bank has said it has loaned more than $12 million (about Tsh20 billion) to women entrepreneurs in the country.
The bank that commenced its operations in 2009 is mainly focused to ensure that female entrepreneurs are empowered but also ensure that women are empowered both economically and socially.
Speaking in Dar es Salaam last week, the bank’s Managing Director Margareth Chacha said the loans have helped entrepreneurs, expand their businesses.
She said the bank was committed and focused at ensuring that women and young entrepreneurs have access to loans that can later lead to the growth of the economy.
“If these women and young entrepreneurs can be able to get access, their business will expand and they will be able to employ more people and this will later lead to the growth of the economy in the country,” Ms Chacha said.
She disclosed that a total of $10.6 million (about Tsh17.6 billion) was loaned to entrepreneurs in Dar es Salaam while around $788,450 (Tsh1.3 billion) was lent out to Dodoma entrepreneurs with another $416,059 (Tsh686 million) going to Mwanza businesswomen.
Other places the bank boosted businesses is Mbeya where $107,957 (Tsh178 million) went to entrepreneurs and Ruvuma region which got $221,979 (Tsh366 million).
She said there is a positive trend in paying back the loans which gives them an assurance of their customer’s businesses are doing well.