Mtumba Member of Parliament Anthony Mavunde has contributed TZS 10 million to support the registration of a women-led Savings and Credit Cooperative Society (SACCOS) in Kiwanja cha Ndege Ward, in a move aimed at strengthening financial inclusion and expanding access to affordable credit for women entrepreneurs.
The contribution was announced during a meeting with women from the ward on August 1, where Mr Mavunde encouraged members to remain united and committed to building a strong cooperative capable of transforming their economic prospects.
He said well-managed SACCOSs play a critical role in enabling women to mobilise savings, access credit and invest in productive activities, ultimately improving household incomes and livelihoods.
The lawmaker noted that the funding would facilitate the registration process and position the cooperative to benefit from various economic opportunities, including government-backed financing programmes designed to support small businesses and community enterprises.
“Strong cooperative institutions can become a gateway for women to access capital, expand businesses and participate more effectively in economic activities,” he said.
Mr Mavunde expressed confidence that the SACCOS would provide members with a reliable platform for accessing loans and pursuing investment opportunities, contributing to the socio-economic development of families in the area.
The initiative also received support from Special Seats Members of Parliament Dr Neema Majule and Eng Aisha Msantu, who pledged to facilitate entrepreneurship and project management training for members.
The two legislators further contributed TZS 1 million each towards the growth of the cooperative.
Speaking on behalf of members, Kiwanja cha Ndege Women’s SACCOS chairperson Priscila Baraka said access to affordable financing remains one of the biggest challenges facing women entrepreneurs and welcomed efforts aimed at addressing the gap.
She said government-supported lending programmes have opened new opportunities for women to secure capital and grow their businesses, helping reduce dependence on informal sources of financing.
The establishment of the SACCOS is expected to enhance access to financial services for women in Kiwanja cha Ndege Ward while supporting broader efforts to promote entrepreneurship, economic resilience and community development in Mtumba Constituency.
