Tuesday, May 22, 2018

TWB to be boosted to increase its efficiency

The government has set in its future plans to increase its capital share in Tanzania Women Bank (TWB) which currently is faced with financial crisis so as to enable it work more effectively and with efficiency to meet the target for which it was established. The government made its call in parliament last week in a morning session of question and answer when responding to a question earlier raised by a special seat Bupe Nelson Mwakangata (CCM) who wanted to know why TWB does not effectively engaged in lending money to women. 

Responding to this question, the deputy minister for Finance Ashanti Kijaji said that the bank is faced with lots of challenges and that is why its efficiency is low. The minister added that, in the meantime, the government has seen the need to review the financial law No. 18 in June this year so as to make it much stronger and a must for the district council authorities to inject 10 percent of their income to women and youth fund so as to enable women and youths borrow on time. She said that the 10 percent is under the national policy program which should be observed by district council authorities without fail, and whoever will not take the issue as serious then drastic measures will be imposed to such a council.

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