DODOMA Regional Commissioner Mr Anthony Mtaka has advised women entrepreneurs alongside Tanzania Commercial Bank (TCB) to tap investment opportunities afloat the strategic projects.
He gave the advice here yesterday when opening TCB platform aimed at empowering women entrepreneurs through tailor made financial solutions, thus addressing their entrepreneurial challenges.
Mr Mtaka said there were a number of opportunities in the Uganda -Tanzania oil pipeline, Standard Gauge Railways, among others, and commended the bank for coming up with the initiative of launching TCB Women Business Forum. He said women should see how best they capitalize the financial liberty thus come up with ways to make women enterprises a force to reckon with.
The RC said banking and other financial institutions were a pivotal aspect in shaping that agenda and TCB. TCB Chief Executive Officer Mr Sabasaba Moshingi said the bank was obliged to drive and support the women economic empowerment agenda following its acquisition of Tanzania Women’s Bank.
He commended the government for merging TWB, Twiga Bancorp and TIB Corporate with operations of the TPB to create a new entity TCB.
The move to create TCB has greatly boosted the fortunes of lender in the market, enabled it to enhance its services to the country’s economy.
TCB last year joined the club of elite banks that have assets of over 1.0tri/-.Its deposit base stood at 888bn/- and total assets of 1.04trn/- at the end of last year.
Mr Moshingi said the bank now has the requisite financial muscle to accomplish the mission of empowering women through a strategy and a wide range of banking solutions.
The lender emerged from a pre-tax profit of less than 1bn/- in 2007 to 21bn/- in last year while loan portfolio surged from 36bn/- to 618bn/ during the period.
The platform will advance women’s banking through strategies enabling women entrepreneurs to unleash their potential and enhance their commercial clout, working to provide solutions to business challenges pertaining to women’s engagement in productive activities.
Also, the forum will focus on women’s roles as change makers and leaders in economy and how they can access and utilize business opportunities that TCB offers in banking solutions and financial services.
To deliver the desired results, the forum will be conducted in six regions namely Morogoro, Mwanza, Mbeya, Arusha and finally Dar es Salaam. Zanzibar will host the next forum on Friday next week. TCB initiated the forum to offer women-owned and women-ledbusinesses, a unique opportunity to grow their enterprises to the next level, officials noted.
Themed: “The Role of Women in the Growth and Development of the National Economy”, the Dodoma forum attracted about 350 participants- women entrepreneurs who are both existing and prospective customers of TCB.
TCB has issued more than 120bn/- worth of loans to women borrowers and managed to mobilize 11.9bn/- deposits through accounts of more than 300,000 savings group, whose 85 per cent members are women.