Categories: FRONT

Tanzania Women’s Bank (TWB): Best Social Impact Bank Tanzania 2018


Empowering women entrepreneurs across the country, Tanzania Women’s Bank (TWB), set up in 2007 and open for business since 2009, aims to simplify the provision of credit and know-how to micro, small, and medium-sized businesses whose needs are often ignored by commercial banks.

Female entrepreneurs face a number of hurdles that conspire against success. Studies have found that banks usually refuse to engage with women business owners or, if they do, charge exorbitant interest rates and demand significant collateral for even small loans. Deprived of working capital, an untold number of promising small businesses fail to take off or remain well below their potential.

Closely enmeshed with the communities in which it operates, Tanzania Women’s Bank is able to lend a helping hand by knowing its customers. The bank’s staff seeks to establish a true partnership with clients in order to properly understand their needs, gauge the potential of their businesses, and offer advice – and credit.

TWB also maintains a full suite of current and savings accounts tailored to the requirements and demands of each demographic. The bank offers, for example, accounts that help minors gain financial literacy skills and women wishing to secure their family’s future.

The CFI.co judging panel has followed the trajectory of TWB for a number of years and has noted the bank’s achievements in helping women-led businesses break through the glass ceiling. As an instrument of social and economic empowerment, TWB has a significant impact on Tanzania’s national development. Moreover, the bank enables women to benefit from the country’s buoyant economy and, by doing so, helps redress social injustice. The judging panel declares Tanzania Women’s Bank winner of the 2018 Best Social Impact Bank Tanzania Award.

marten

Recent Posts

Nordea Asset Management: Best ESG Team Europe 2024

Nordea Asset Management (NAM) has championed responsible investment for over three decades, beginning in 1988…

2 days ago

SegurCaixa Adeslas: Best Insurer Spain 2024

SegurCaixa Adeslas, a pre-eminent Spanish health insurance company, has demonstrated a formidable and truly impressive…

1 month ago

Banco BPI: Excellence in Sustainable Banking Initiative Portugal 2024

Banco BPI's dedication to sustainability is a beacon of proactive environmental and social responsibility. Beyond…

1 month ago

BSE Ltd: Champions of Capital Market Innovation and Efficiency Asia 2024

BSE Ltd, formerly known as the Bombay Stock Exchange, is a crucial player in India’s…

1 month ago

TMT Investments Plc: Visionary Leaders in Global Tech Venture Capital Europe 2024

TMT Investments Plc, publicly quoted on the AIM market of the London Stock Exchange since…

1 month ago

BNP Paribas Fortis: Outstanding Contribution to SME Financing Benelux 2024

BNP Paribas Fortis is a key player in the Belgian banking sector with a rich…

2 months ago