Absa Bank Tanzania, in partnership with the Tanzania Private Sector Foundation (TPSF), has conducted a financial literacy and investment management seminar for macro, small and medium-sized women entrepreneurs from various sectors.
The training, held in Dar es Salaam over the weekend, aimed to equip participants with practical financial knowledge and skills to strengthen their businesses and improve their investment decisions.
Speaking during the seminar, Absa Bank Tanzania Citizenship and Events Manager, Ms. Abigail Lukuvi, said the initiative forms part of the bank’s long-standing corporate social responsibility agenda, which focuses on empowering communities, particularly women entrepreneurs, through financial education and business development support.
“We are delighted to see such strong participation from women entrepreneurs. The training aligns with Absa’s purpose of ‘Empowering Africa’s Tomorrow, Together, One Story at a Time.’
We believe the knowledge and skills gained through these sessions will enable participants to achieve greater economic success and enhance the sustainability of their businesses,” she said.
Ms. Abigail noted that the bank’s brand promise, ‘Your Story Matters,’ underscores its commitment to supporting entrepreneurs in building successful businesses.
“Through our collaboration with TPSF in providing financial literacy and business management skills, we believe we are helping these entrepreneurs write their own success stories. Their stories matters to us, and we are committed to supporting their growth,” she added.
On her part, TPSF Director Outreach and Membership Services, Ms. Kinanasy Seif, said the organization remains committed to working with strategic partners to empower women entrepreneurs through capacity-building programs aimed at fostering business growth and economic resilience.
She noted that TPSF has implemented various initiatives to support women in different areas of entrepreneurship, recognizing their significant contribution to the development of the private sector and the national economy.
“We have successfully brought together women entrepreneurs from different regions to benefit from financial literacy and investment training delivered by Absa Bank.
We are confident that the knowledge acquired will help them make informed financial decisions and accelerate the growth of their businesses,” Ms. Kinanasy said.
She added that the partnership between TPSF and Absa Bank represents an important step toward ensuring women entrepreneurs have access to the knowledge, skills, and opportunities necessary to achieve sustainable economic development.
The seminar also featured a presentation by the Tanzania Revenue Authority (TRA), delivered by Mr. Zephania Mange, Taxpayer Education and Communications Officer from the Kinondoni Tax Region.
He emphasized the importance of tax compliance in building sustainable businesses and highlighted both the obligations and rights of taxpayers.
Mr. Mange explained that taxpayers are entitled to confidentiality regarding their tax information, with all submitted data protected and inaccessible to unauthorized individuals.
He further stressed that all taxpayers should receive equal treatment without discrimination.
“Taxpayers also have the right to challenge decisions made by tax officials if they are dissatisfied. Initial decisions are not final, and there are established appeal mechanisms available through the appropriate legal procedures,” he said.
Regarding taxpayer obligations, Mr. Mange reminded business owners to register for a Taxpayer Identification Number (TIN) within five days of commencing business operations.
He also noted that businesses meeting the statutory turnover threshold are required to use Electronic Fiscal Devices (EFDs) and, where applicable, register for Value Added Tax (VAT) in accordance with Tanzanian tax regulations.
The seminar forms part of ongoing efforts by Absa Bank Tanzania and TPSF to strengthen financial inclusion, promote entrepreneurship, and enhance the long-term growth and sustainability of women-led businesses across Tanzania.
