WOMEN'S BANK DISHES OUT TZS 20 BILLION LOANS

Tanzania Women's Bank (TWB) has dished out over TZS 20 billion to women entrepreneurs and the youth in order to enable them expand their business ventures. The Bank's Managing Director, Ms. Margaret Chacha told a new conference in Dar es Salaam over the weekend that in less than 4 years since the bank was established, TWB has reached out to more women entrepreneurs and the youth.

"Our loans to these entrepreneurs have been very instrumental in expanding their businesses and the loan repayment is encouraging", Ms. Chacha explained. She said the bank has realised that empowering women entrepreneurs and the youth goes a long way in contributing to socio-economic development and growth.

"It is the bank's conviction that women and the youth are good contributors to the economy", she said, adding that the two groups consist of the majority of the population and therefore needed strong support to turn around the economy.

According to Ms. Chacha, TZS 17.6 billion was released to entrepreneurs in Dar es Salaam, TZS 1.3 billion in Dodoma and TZS 686 million in Mwanza.

"Since we are currently spreading our wings upcountry, the bank has also dished out TZS 178 million to entrepreneurs in Mbeya and TZS 366 million to entrepreneurs in Ruvuma region", she noted.