Recognizing the vital contribution of women entrepreneurs to the country's economic growth, Absa Bank Tanzania has continued to encourage women entrepreneurs to open the bank's SHE Account, which offers a range of benefits.
Among these are no monthly account maintenance fees, no transaction charges, and the ability to conduct transactions in both Tanzanian shillings and foreign currencies.
Speaking during the World Entrepreneurs Day celebrations held recently in Dar es Salaam, where Absa was one of the event's sponsors, the bank's Head of Commerial Banking, Mr. Victor Nchimbi, said that through the Absa’s SHE Account, women entrepreneurs also receive specialized training on how to successfully manage and grow their businesses.
"As a key stakeholder in the entrepreneurship sector and in recognition of the important role entrepreneurs play in Tanzania, we have introduced a range of services tailored to support them. These include affordable financing, digital banking solutions, and, as reflected in today's celebrations where the majority of participants are women, our SHE Account, which is specifically designed to economically empower women," he said.
Also speaking at the event, Ms. Maua Jumanne, an entrepreneur in the cosmetics business, noted that limited knowledge about business capital, access to financing, and effective business management remains a major challenge for many women entrepreneurs. She urged banks to place greater emphasis on providing education and support in these areas.
"I encourage banks to reach out to us and provide financial literacy on business capital and loans that can help small entrepreneurs grow our businesses and reduce our dependence on exploitative informal lenders," Ms. Maua said.
Absa Bank remains committed to creating accessible platforms where micro, small, and medium-sized enterprises (MSMEs) can exchange best business practices, access financing opportunities, and foster innovation, while advancing the bank's purpose of 'Empowering Africa's tomorrow, together one story at a time.'
