Bank For Women

[Jacaylbaro]

Tanzania launches bank for women

 

 

Tanzania has launched a bank aimed specifically at women in what officials say will be an empowering move.

 

The bank says women need only an ID card or passport to open an account, unlike other banks which require title deeds or other proofs of wealth.

 

And applicants need only 3,000 Tanzanian shillings ($2) in savings – much less than other banks.

 

Although the bank, which is based in Dar es Salaam, targets women with its services, men can also open accounts.

 

The bank’s management says it will give women expert help and advice.

 

 

‘Too shy’

 

Margareth Mattaba Chacha, the managing director, said: “We know some women hesitate to come forward – they are too shy and think they don’t know anything.

 

“But here we’re going to have a big group of professionals to take women through step-by-step until we really reach our women.”

 

The BBC’s Zuhura Yunus, in Dar es Salaam, says 110 people had opened accounts at the Tanzania Women’s Bank by the end of the morning.

 

Officials hope there will be 200 more people coming in every day and say the Dar es Salaam branch is just the beginning of a countrywide network.

 

Margaret Sitta, Minister of Community Development, Gender and Children, said the bank would empower women, but stressed that the accounts were open to all.

[Som@li]

Good move,

[Malika]

Jb and his threads!

 

JB is there microfinance for women in SL?

[Jacaylbaro]

hehe ,,, tell me if you need any assistance ,,

[Ibtisam]

Margareth Mattaba Chacha, the managing director, said: “We know some women hesitate to come forward – they are too shy and think they don’t know anything.

How patronizing and rude!

 

JB can you be my marketing man you know every shillin that duusto!

[Warrior of Light]

Originally posted by *Ibtisam:

quote: Margareth Mattaba Chacha, the managing director, said: “We know some women hesitate to come forward – they are too shy and think they don’t know anything.

How patronizing and rude!

 

Actually, she is spot on. It is true in what she says. In my country women are the most illiterate and down trodden. They dont know the fancy business jargon or basics but they know how to save and ration their money wisely and be the pillar of support when things go wrong. Most of them work miniscule jobs - mama ntilie(street food vendors) or farmers or owners of local pubs.With all their effort they still are poor.

 

Another thing is the lifestyle is still male dominated so women need encouragement to make their own financial decisions as well as gain their independence. I have met many women who work to make ends meet and the husband comes home and blows all her savings at the pub or on investments without her consent or say. She ends up frustrated; her capital is gone, her childs school fees as well as the small savings for that little hut she aspires to build. And there is nobody who can help her. Govt doesnt care as well as the established banks so she heads to the Ushirika(coop)banks or small groups to ask for help; that is the case of a knowledgeable one, the poor one will go back to her lady freinds and extended family to get a new capital and start over again. And most of the time they face intense humiliation or tough terms.

 

I hope this venture will help educate these women on wise investments as well as give them resources to become more productive and independent like the BARRA (Bangaledesh Rural reconstruction Association) projects which empower the community.

 

My major concern is this wont be another scam or failed project to fleece the poor. A couple of coops/ business(pyramid) schemes have fleeced people in the past in Tz including one run by the former first lady while her husband was still in power. Wouldnt like it to happen again.

[Jacaylbaro]

Originally posted by *Ibtisam:

you know every shillin that duusto!