Last updated: July 25, 2019.
The Tanzania Women’s Bank (TWB) has appealed for more funds from the government to be channeled to various economic empowerment activities through low-interest loans.
Tanzania Women’s Bank chairperson, Beng’l Issa said in an exclusive interview in Dar es Salaam last week that they were planning to formally submit a request to the government for funds to meet their target of empowering various groups of people.
According to her, the bank which was improving day by day needed a marketing strategy that will enable it to get more customers.
“The bank is performing well with a good trend of the customer base, mostly women. But we need more tailor-made marketing strategies to woe more customers,” she acknowledges, adding: “For instance, Village Community Banks (VICOBA) has TZS trillion. Why can not we encourage them to deposit their money in our bank so as to consolidate their lending portfolio?”
Beng’l Issa noted that the bank would only manage to achieve its objectives by diversifying its customer horizon, encouraging big business persons to have accounts with the bank and working closely with VICOBA for the benefit of both parties.
“We strive to have a women’s bank that can bring sustainable development in our communities. We need to cooperate with Small Industries Development Organisation (SIDO). They provide training to small and medium entrepreneurs (SMEs). This will ensure that we realize the dream of becoming an industrialized nation,” she observed. Beng’I Issa noted on the need of her bank to increase its network by opening more branches, starting with one branch every year.
The bank plans to extend awareness education to its prospective customers on the need to save their earnings. The TWB Chairperson believes that with low-interest rates, the more social economic impact could visibly be seen on the people and communities.