Airtel Money, in collaboration with I&M Bank Tanzania, has launched the Women Financial Literacy & Inclusion Program, a strategic initiative aimed at empowering women entrepreneurs with financial knowledge, tools, and access to services that can elevate their businesses and transform lives.
This program, unveiled during a one-day inaugural training session in Dar es Salaam, brought together over 50 women for interactive sessions on digital finance, financial management, and sustainable business practices.
The initiative forms a core part of I&M Bank’s broader Sustainability Strategy, which is anchored on three key pillars: financial inclusion, financial literacy, and environmental responsibility all aligned with the United Nations Sustainable Development Goals (SDGs), especially SDG 5 on Gender Equality and SDG 13 on Climate Action.
Speaking at the launch, Charles Kamoto, Managing Director of Airtel Tanzania, emphasized Airtel Money’s role in bridging the “usability gap” in digital finance, particularly among women.
“Airtel Money is widely used, which is why we focus on capacity building to ensure our customers especially women can confidently and effectively use digital financial services,” he said.
“With smartphone penetration among Tanzanian women still below 30%, we included hands-on demonstrations to build digital confidence among first-time users.”he added
Mr. Kamoto pointed out that more than 65% of Tanzania’s adult population lacks adequate access to formal financial services with women being disproportionately affected.
Through this program, Airtel and I&M Bank aim to close that gap by building long-term financial resilience.
Zahid Mustafa, CEO and Managing Director of I&M Bank Tanzania, underscored the bank’s commitment to inclusive finance.
“This initiative is a reflection of our purpose-driven approach to banking. We’re proud to lead this program alongside Airtel Tanzania. Together, we’re creating a platform that supports women’s financial literacy and expands their access to financial services,” Mr. Mustafa said.
He added that the curriculum, developed in partnership with Grant Thornton, will evolve based on feedback from the participants. The bank fully sponsored the training for 60 women during the launch event and aims to reach many more across Tanzania.
A key feature supporting the program is Kamilisha a jointly developed mobile overdraft service from Airtel Money and I&M Bank.
It allows users to send money or pay bills even when they have insufficient Airtel Money wallet balances.
Since its launch, Kamilisha has disbursed over TZS 392 billion, with 46% of the beneficiaries being women. Over 5 million Tanzanians have joined the formal financial ecosystem through this product.
In a unique blend of financial and environmental sustainability, I&M Bank has also pledged to plant one tree for every 100 women it lends to, with a target of 8,000 trees per year.
The tree-planting initiative will be implemented in partnership with the Africa Transformation Initiative (ATI), which will oversee supply, tracking, and reporting of the trees planted across Tanzania over the next three years.
Despite progress in mobile and digital banking, many women-led small and medium-sized enterprises (SMEs) in Tanzania still face barriers due to limited access to education and formal financial systems.
The Women Financial Literacy & Inclusion Program directly addresses these challenges by equipping women with practical, hands-on knowledge helping them thrive in the growing digital economy.