Tanzania
Commercial Bank has vowed to use its recently formed Business Forum for Women
to promote women’s economic dignity and prosperity by making finance work for
them.
The oldest
bank in the country says it will accomplish the noble mission by becoming market
leader for advancing their financial inclusion and the top driver of innovative
financial services for this potentially lucrative market segment.
The ultimate
goal of the undertaking, senior officials of the bank explained here yesterday,
is to support efforts of the government to empower them economically and boost
their effective engagement in productive activities.
Speaking during
the second edition of the TCB Business Forum for Women, the officials said the
endeavour revolves around catapulting women banking to unprecedented new
heights.
The strategy
to make that possible, they noted, mostly involves enlightenment on available economic
empowerment and entrepreneurship opportunities at the bank.
Equally
important, the forum’s resource persons explained, will be use of existing and new
innovative financial solutions that will be supported by TCB’s financial
muscle, digital prowess, unrivalled market outreach and its innovation
champions.
The Mbeya TCB
Business Forum for Women attracted about 250 participants who used the
roundtable to discuss and share business ideas and experiences, network, forge
alliances and learn from the bank’s experts.
It was
officially opened by Deputy Speaker Dr Tulia Ackson, who said women are a formidable
but sidelined economic force. The Mbeya Urban lawmaker said focus of the
forum’s deliberations was timely and augurs well with the government’s efforts
to leave no woman behind in creating a prosperous Tanzania.
“With this
initiative, TCB is going to play a significant transformative role in changing
the financial and economic status of women. I congratulate you for coming up
with this idea and investing time and resources to make it a success,” Dr
Ackson noted.
Premised on
the theme of “The Role of Women in the Development of the National Economy” the
TCB women empowerment platform was officially launched early this month in
Dodoma.
CEO Sabasaba
Moshingi said similar roundtables will be organised in Zanzibar, Morogoro,
Arusha, Mwanza and Dar es Salaam with the next scheduled to be held in the
isles next month. The forums also accord participants a platform to see, hear
and learn from successful businesswomen and get to know TCB and its services better.
“With the
many economic barriers women face and the financial challenges they encounter, we
are committed to ensure this financial and economic empowerment agenda delivers
the desired result,” Mr Moshingi emphasized.
“Through
these forums, we want to serve the women market segment better and get to know
their unique financial needs,” he noted. “The ultimate goal is to enhance the
contribution of women in national building.”
The CEO told
the TCB success story during 2007 – 2020 to illustrate the viability of the new
networking platform and why he is optimistic it will succeed. He said during
the period the fortunes of the 96-year old lender blossomed splendidly with its
balance sheet ballooning by over 1,000 per cent to top slightly above TZS 1.04
trillion in 2020.
Its loan book
surged to TZS704 billion at the end of quarter one this year. TCB special
services for women include Tabasamu account and several credit facilities.
To date, the
bank has extended over TZS 120 billion loans to women who account for about 50
per cent of its one million customers. In fiscal year 2020/21, TCB loaned 7,637
women-owned and run micro and small enterprises some TZS 25.81 billion.
“The takeover
of TWB in 2018 obliges us to give special attention to women banking and that’s
why we are here today,” he pointed out.
Some of the
forum’s resource persons, who were all TCB women staff, said the gatherings
seek to show the bank’s readiness and ability support women entrepreneurs.
They said TCB
offers women abundant commercial and empowerment opportunities through services
such as its Nishike Mkono Bima and Kinamama Policy bancassurance solutions.
For
More Information
Ms.
Chichi Banda
Corporate
Affairs’ Unit
0682
136414
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