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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.


Source: BBC
Tags:Tanzania
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