EMPOWERING WOMEN, TRANSFORMING COMMUNITIES: ABSA & ASA MICROFINANCE CELEBRATE 4 YEARS OF IMPACT

Absa Bank Tanzania Managing Director, Mr. Obedi Laiser (third left), presents an award to the Chief Executive Officer of ASA Microfinance Tanzania, Mr. Muhammad Shah Newaj, in recognition of the institution’s contribution to empowering women entrepreneurs across Tanzania through various financial solutions. Also pictured (from left) are Ms. Abigail Lukuvi, Absa’s Citizenship and Events Manager; Ms. Nellyana Mmanyi, Absa’s Director of Corporate Banking; and Ms. Veneranda Francis, ASA Microfinance’s Community Relations and Administration Manager.

Dar es Salaam, Tanzania – Absa Bank Tanzania, in partnership with ASA Microfinance, proudly celebrates four years of a groundbreaking collaboration that has provided over TZS 40 billion in financing to more than 50,000 women entrepreneurs across Tanzania.

Since its inception in 2022, this long-term partnership has gone far beyond lending. Each woman entrepreneur supported is not only transforming her own future but also positively impacting her household, employees, suppliers, and wider community.
Research shows that financing one woman entrepreneur in Tanzania can uplift the lives of 15–20 people around her — meaning this initiative has touched nearly one million Tanzanians, strengthening families and fueling inclusive economic growth.

Obedi Laiser, Managing Director of Absa Bank Tanzania, said:

“Most organizations treat women’s empowerment as a project. For Absa, it is a purpose-driven commitment. By enabling more than 50,000 women to access financing and grow their businesses, we are seeing a ripple effect that changes families, educates children, creates jobs, and builds resilience in entire communities. This is how we live our purpose of Empowering Africa’s tomorrow, together… one story at a time, because at Absa, Your story matters.”

Muhammad Shah Newaj, CEO of ASA Microfinance Tanzania, added:

“Our partnership with Absa Bank Tanzania has been transformative. With Absa’s support, ASA has been able to extend micro-loans to tens of thousands of women entrepreneurs who would otherwise be excluded from the formal financial system. Together, we are not just financing businesses — we are financing dignity, hope, and opportunity that uplift generations.”

Over the past four years, the partnership has combined capital financing with financial literacy training, ensuring that women entrepreneurs are equipped not only with loans but also with the knowledge and skills to manage them sustainably.
Earlier this month, 50 women from Dar es Salaam participated in a financial literacy programme covering budgeting, saving, investment, and record keeping — a vital step in turning credit into long-term empowerment.

This initiative underscores Absa’s Corporate Citizenship strategy, which prioritizes financial inclusion, entrepreneurship, and sustainable development. It also aligns with Tanzania’s National Financial Inclusion Framework, extending credit and knowledge to underserved groups and creating a lasting ripple effect of economic resilience.

Through this enduring partnership, Absa Bank Tanzania and ASA Microfinance continue to write stories of change — stories where one empowered woman transforms not just her own life, but the lives of many.