TANZANIA WOMEN'S BANK HELPS WITH PLOTS

Dar es Salaam, Tanzania — Tanzania Women's Bank (TWB) together with town planners, have started a new scheme of helping women and small entrepreneurs to acquire plots.

Under a Land Mortgage Agreement, TWB Managing Director, Margareth Mattaba Chacha said interested business people must open an account with Tanzania Women Bank.

"If you want to join the move, you must first have an account with us with the minimum 30 percent balance but its depends on the size of the plot thereafter the bank will facilitate you to acquire the plot for your own uses.

"We are very serious with this. That is why we are collaborating closely with land planners to ensure the area is well surveyed and the all process should be legally to avoid inconveniences in the long run," she said.

She said many financial institutions are reluctant to give loans to local entrepreneurs and women due to the fact that many don't have land or plots with title deeds.

Chacha said the TWB has now opened up to women and other entrepreneurs who were rejected in various other financial institutions.

She said the scheme was aimed at helping women secure plots with title deeds and have access to loans for the purpose of expanding their business or build houses but the plots can also be used as collateral.

Chacha said the process will involve the chairman of the local government in the area, villagers, ward tribunals and district courts to avoid any complaints or confusion during and after the process.

"We are planning to meet women in many parts of the country and help access the loans under the scheme," she said.

"I am calling upon all women to fully utilize the service to get plots with official title deeds. These will give them access to loans for expansion of their businesses," she explained.

TWB officially opened its doors to the public on the 28th of July 2009.