Zanzibar legislator want Tanzania women bank to operate in the Isles

THE Tanzania Women Bank (TWB) has put in its future plans to extend its services by opening new office branches in Tanzania Zanzibar and other up-country regions in the country, the Parliament has been informed. The Deputy Minister for Community Development, Gender, and Children Ummy Mwalimu yesterday said in Parliament that, TWB in collaboration with the Ministry of Labor, Employment, Youth development and Zanzibar’s Ministry of Finance are in process to extend the bank’s services in the Isles. She said the objective is to enable the Zanzibar women to benefit the credit facilities as part of the mission for which the bank has been offering to women so as to reduce their economic hardship. She said that, the whole process would involve the establishments of branch offices mainly targeted for small scale businesses and women entrepreneurship groups in the Isles. She said, the TWB will open its branch office on completion of the rehabilitation work currently being undertaken in a building expected to carry out banking services once the process is finished. Minister Ummy was responding a question by Faida Bakar (CCM) special seat who wanted to know reasons why since the establishment of the bank almost six years ago, no branch office has not yet been opened in Zanzibar. Answering a supplementary question why the bank is offering loans mostly to men and not women, minister Ummy admitted the fact and said that, men have more economic power than women a factor which she said cannot prevent the bank from doing business with men. She said that the bank cannot segregate men for its after doing business, although the priority is given to women also. However, she outlined that, about 77 percent of the banks loan facilities has been given to men, while women have benefited to 22 percent. In 1999, a group of women entrepreneurs from all across Tanzania voiced their idea of having a "Women's Bank" to the then President of the United Republic of Tanzania, Honourable Benjamin William Mkapa, at the Dar es Salaam International Trade Fair organized by the Equal Opportunities for All Trust Fund (EOTF) and Federation of Association of Women Entrepreneurs in Tanzania (FAWETA). With a focus on interests and policies that favoured women empowerment, these women's wishes were granted by the government, who partnered with the Ministry of Community Development, Gender and Children (MCDGC); Ministry of Finance and the Bank of Tanzania (BOT) to facilitate the establishment of the "Women's Bank". In 2007, eight years later, the Tanzania Women's Bank (TWB) was created, incorporated and registered as a limited liability company with a shareholding structure comprising of 97 percent Government and 3 percent private individuals and entities. TWB officially opened its doors to the public on the 28th of July 2009. With a passion and commitment towards female entrepreneurs, the Bank's aim is to empower women economically and socially. TWB strives to provide high quality services all across the board, thus the Bank's recognition and appreciation for the presence of low income earners, small businesses, the corporate clientele base, and Small and Medium Enterprises (SMEs).