By Alfred Zacharia
When Mama Tesha upgraded her milk processing facility using a matching grant and secured a bank loan, she did more than expand her dairy business, disrupting the narrative around women entrepreneurs and access to finance in Tanzania.
Her company now collects raw milk from 500 farmers, a feat that stood as a compelling testimony at the Gender in Finance Forum held on May 6 in Dar es Salaam.
Hosted by Mennonite Economic Development Associates (MEDA) and Supivaa Advisory Group Ltd., in collaboration with the National Economic Empowerment Council (NEEC) and the Tanzania Bankers Association (TBA), was not a typical conference. It was a turning point in how Tanzania views financing through a gender lens.
“Securing that loan wasn’t just about expanding my business—it was about proving that women can be credible borrowers and strong entrepreneurs,” Mama Tesha told the audience. “The grant opened the door, but the loan is what helped me build something sustainable.”
Despite women making up 54 percent of the country’s entrepreneurial workforce and participating in the labor force at a rate of 80 percent, they continue to face a staggering TZS 3.9 trillion ($1.7 billion) financing gap.
Also read: Forum aims to bridge $1.7 Billion funding gap for women entrepreneurs in Tanzania
This disparity, while deeply rooted in structural inequality, is also an untapped economic opportunity.
The forum aimed to showcase what the financial service providers (FSPs) had learned from the GLI trainings which equipped them with practical tools. They have began integrating to drive more equitable financing for women-led micro, small, and medium enterprises (MSMEs).
“For us, aligning capital accessibility with gender equity is not optional—it is essential,” said Musa Lubango, MEDA’s Tanzania Country Director.
“If we are serious about inclusive agri-food markets and equitable economic growth, women must have equal access to finance,” Lubango added.
As part of its Feminist Entrepreneurs Growing Green Economies (FEGGE) initiative, funded by the governments of Canada.
MEDA has collaborated with some financial institutions like FINCA Microfinance Bank, PASS Leasing Company, Tausi Africa, Azania Bank, NEEC, and the Tanzania Investment Development Bank (TIB)—to embed gender responsiveness in their operations.
This FEGGE project in Tanzania is being implemented in collaboration with the Ministry of Industry and Trade.
These institutions participated in tailored Gender Lens Investing (GLI) programs that included training, coaching, peer learning, and action planning. The forum allowed them to showcase progress, share lessons, and commit to long-term strategies for inclusive finance.
Still, challenges remain. Only four percent of employed women in Tanzania hold formal jobs, with the vast majority working in informal sectors like agriculture and trade.
“This is not just a social issue, it’s an economic one,” said Nangi Massawe, Manager of Financial Inclusion at the Bank of Tanzania.
“We can’t close the TZS 3.5 trillion gender financing gap if we’re flying blind. That’s why we’ve made it mandatory for banks to submit sex-disaggregated loan data. We need to know who is being served—and who is being left behind,” he explained.
This data-driven approach is gaining traction at the policy level.
Carol Mundle, Head of Cooperation at the Canadian High Commission in Tanzania, reaffirmed Canada’s commitment to gender equality through international development.
“When women have access to finance, they invest in their families, their communities, and their economies. Inclusive financial systems are not just good policy, they’re smart economics,” she said.
Patrick Lumumba from the African Guarantee Fund echoed that sentiment. “We need a holistic approach to gender lens investing—not just better products, but better pipelines of investment-ready, women-led businesses. That’s how we ensure sustainability.”
Mama Tesha’s story was frequently referenced during the forum, not as an exception, but as proof of what’s possible.
“What we learned from Mama Tesha’s journey is that the barriers aren’t insurmountable,” said Ms. Constansia Akaro, Ag. Ass. Director Enterprises Development (SME) in the Ministry of Industry and Trade.
according to her, with the right partnerships and intentional financing models, women-led enterprises can move from informal to formal, from surviving to thriving.
The Executive Director of the Tanzania Bankers Association Ms. Tuse Joune emphasized the need for stronger collaboration.
“Women have the vision, but they often lack access to information and financial services. We must work with organizations like MEDA to bridge that gap, foster trust, and deliver services that meet women where they are,” she said.
Representatives from participating financial institutions shared their experience.
Rachel Malipula from FINCA said, “The GLI training came at just the right time. It helped us refine our existing approaches that will allow us to design products that truly consider the needs of women entrepreneurs.”
Meanwhile, Fikky Ntomola, President of the Tanzania Women in Finance Association, issued a call for deeper intentionality.
“Gender lens finance cannot be an afterthought. It must be baked into policy, regulation, product design everything. Otherwise, we’re just scratching the surface,” she noted.
The Gender in Finance Forum was more than a one-day event. It was a collective reflection on the urgent need to reframe access to finance as both a gender issue and a national economic imperative.
It underscored that financial inclusion, when approached with gender equity at the core—can unlock prosperity for women, families, and entire sectors.
In a country where entrepreneurial energy is abundant but capital remains elusive for many, gender lens investing offers a proven pathway forward. And if the forum proved anything, it’s that Tanzania is ready to walk that path—with women like Mama Tesha leading the way.
