Tanzania Bank for Women | 07/30/2009 10:30 am

Empowering Tanzanian Women: New Women's Bank Encourages Women to Take Control of Finances

The African country previously required numerous forms of documentation and a high minimum deposit for women to start bank accounts. Now, banking is a lot easier.

By The Staff at wowOwow.com

Women in Tanzania now have a whole new array of banking options.

The East African country, which borders Kenya, Uganda, Rwanda, Zambia and Malawi, as well as the Indian Ocean, this week opened a bank aimed specifically at women customers. Tanzania Women’s Bank officials hope it will empower women to come forward and try taking charge of their own finances. Whereas women at other banks need title deeds or other proof of wealth to open an account, the new bank only requires a passport or ID card. And the required amount to open an account? As little as $2 — or 3,000 Tanzanian shillings. This branch is located in the capital city of Dar es Salaam, but bank officials hope it will spread nationwide. Men are also welcome.

"We know some women hesitate to come forward — they are too shy and think they don’t know anything," Margareth Mattaba Chacha, the managing director, told the BBC. "But here we’re going to have a big group of professionals to take women through step-by-step until we really reach our women."

Women make up 51 percent of Tanzania’s total population of about 41 million, and poverty and poor health conditions abound. The United Nations has been working to cultivate Tanzanian women entrepreneurs in the food processing sector. In Africa, women contribute to half of the agricultural labor force and grow 80 percent of the crops. In the Tanzanian village of Soga, a village savings-and-loan program introduced by the non-governmental group CARE is helping women generate income. The online Tanzanian Development Gateway works to enhance the development of women and women’s groups there, and tries to empower women by capitalizing on opportunities available through networks like the Tanzania Business Portal. Women have also increasingly won more posts in government.

But there is no shortage of obstacles to the advancement of women in this society. The UN cites challenges including gender dimensions of poverty such as discrimination and harassment of women, access to basic services such as health and education, excessive workload, impoverishment and harassment of widows, low participation of women in decision-making, greater risk and vulnerability of women and girls to HIV infection, enforcement of gender-sensitive laws due to prevailing negative attitudes and norms towards women.

At least the Tanzania Women’s Bank is one step in the right direction!

Read more about: Africa, Agriculture, Bank, Banking, Business, News, Tanzania, Tanzania Women's Bank, women, World

17 Reader Comments (so far…) Sign In or Register to comment

Women worldwide are faced with the same problems of gender discrimination, sexism, ageism, poverty and harassment. Women continue to be paid less for their labor.

I applaud "Tanzanian Women’s Bank." This is a step in the right direction. I believe with increasing support, information and encouragement the women of Tanzania will take advantage of this opportunity. I have no doubt once it takes off it will flourish. Given the level of poverty I’m pleased to learn they can open an account with as little as 3,000 Tanzanian shillings($2.00.)

Tanzanian Women’s Bank will be instrumental in the developement of Tanzanian Women’s feelings of independence and economic empowerment. Feelings perhaps some have never experienced.

I’m filled with optimism and extent my best wishes for much success!

"A TRIBUTE TO ALL THE WOMEN AROUND THE WORLD WHO HAVE FORGOTTEN TO DANCE FOR THEMSELVES" ANGELA CARR PATTERSON

http://www.youtube.com/watch?v=3rmWiJReNSl

By L. C. on 07/30/2009 11:06 am

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Well said.{Applause} I agree with you.

By Grande Camper on 07/30/2009 11:48 am

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I remember in the sixties trying to set up a small account and some banks didnt want to bother without a minimum amount. Wells Fargo did and I have been with them ever since. When I tell people my own mother lived in a time before a womans right to vote, they are astounded. It is about time the whole world remembers that all men are created equal and that means women too.

By Judy K. on 07/30/2009 12:57 pm

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They now have a bank, but do they have the money to deposit into it?

By Belinda Joy on 07/30/2009 1:05 pm

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Belinda Joy

I hear you loud and clear. You’re right on target! The 3,000 Tanzanian shillings ($2.00) is a great deal of money when you’re poor and trying to put food on your table. Many women still will be unable to afford a bank account.

By L. C. on 07/30/2009 2:06 pm

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Exactly. Given that the average Tanzanian earns just $200 a year (I hope everyone understands I have not typed this in error….yes they only earn $200 a year) having the money on the side to deposit into a bank would be a huge undertaking for them. But make no mistake about it, I am proud of them and their efforts in this regard.

By Belinda Joy on 07/30/2009 3:08 pm

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I guess this is news, but with so much going on domestically… it’s hard to get too into this subject.

By DeBúrca obj on 07/30/2009 1:48 pm

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DeBurca obj

While, I understand your priority being America’s domestic issues. I must address your post.

We do not live in a vacuum. Whether locall, national or international Issues affecting the lives of women should concern all!

I read your posts and they’re often quite passionate. Your recent posts on breastfeeding are examples of your passion. Breastfeeding is a subject that strikes a chord with women. Women’s economics is another subject of major importance, one we can all relate to. A woman in Africa breastfeeds her baby the identical way a woman in France, England, Italy and America breastfeeds.

I do not have to be Tanzanian to offer words of support and encouragement to Women who are trying to Uplift themselves. I do not have to live in the Middle East to be outraged about so-called honor killings! The mere fact that these are women is enough to concern me! …Poor women who are invested in a struggle to improve their circumstances should rate more than a dispassionate dismissal."I guess this is news, but with so much going on domestically … it’s hard to get too into this subject.

You guess? … Hard to get too into this subject?

We live in a global society. How can you not relate to women’s economics? It’s clearly a domestic issue. Everyday women in mass are balancing family budgets and check books.

You’re not being confronted I assure you. I’m confronting hypocrisy and the deeply rooted lack of interest when it comes to persons who are "Other" This reminds me of a period when hypocrisy and double talk flourished much like today.

Historically

During the 1960s and 1970s the "Women’s Movement" There was no Sisterhood! … It was myth! … Women of all ethnicity’s were not united! … It was not inclusive. Like everything-else Blacks had to fight for inclusion and to speak in their own voice.

"Women’s Liberation" was important. However, African Americans and people of color were addressing the issues of Civil/Human rights and discrimination.

The bottom line while Mary was running off to her "Women’s Liberation" Meeting she did not invite Angela(her so-called sister in the struggle) to join her. Instead, Angela was left behind to care for Mary’s children. While women of color were not invited to sit at the table. They were expected to march. It was important. You know the power of numbers.

Women are a Powerful, Beautiful, Strong and Intelligent, among many other adjectives. Women are all sizes, shapes, ages and ethnicity’s. Women must learn to be supportive of each other! …"My Sister’s Struggle is My Struggle and My Sisters Victory is My Victory."

By L. C. on 07/30/2009 3:29 pm

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I most certainly do not live in a "vacuum" and I am very interested in many issues outside this country. However, our country is facing a very critical period with huge issues being debated along with vast amounts of mis-information being spread around regarding these issues and it is very hard to get too interested in this particular topic, a bank in Tanzania, at this time. This also goes for most of the topics wowOwow has been posting lately, such as the prison term for ‘honor killers’ in Syria, or telling pregnant women to get a swine flu vaccine that is not even available until October…. and all you have to do is look at the dismal number of hits these threads are getting to see that I am not the only one who feels this way.

By DeBúrca obj on 07/30/2009 4:55 pm

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DeBurca, you, of all people, do not live in a vacuum and seem quite interested in other topics. However, I have to agree with you that it is difficult to get excited about a bank in Tanzania at this time. Not many people are interested in that. While I am happy that women there can open a bank account with $2.00 I probably won’t think about it again after today. I am thinking about what is going on here in America and how we can resolve the issues facing all of us. We certainly cannot make a difference in Tanzania. I am interested in helping women here in our country.

Good response, DeBurca, as usual!

By deber B on 07/30/2009 5:01 pm

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Yes, and let’s not forget the ‘intriguing’ Cold Stone Pudding Ice Cream thread we had a day or so ago…

By DeBúrca obj on 07/30/2009 7:56 pm

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Oh, my, the pudding ice cream. Nearly forgot about that one. Hopefully we’ll get some good threads today. We are hoping you’ll join us on Liz Peek’s thread to give us some of your ideas and opinions to chew on. All of seem to get charged up on Fridays!

By deber B on 07/31/2009 5:17 am

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A round of applause for you, LC! Well versed indeed!

By Maggie W on 07/30/2009 4:37 pm

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"A CULTURAL, SOCIOLOGICAL AND PSYCHOLOGICAL PERSPECTIVE OF THE OTHER"

As always the point was missed and there is definitely a cultural disconnect. Posters are not being asked to stop everything and FOCUS on Tanzanian Women’s Bank. I’m addressing hypocrisy, cultural and social politics! …I’m addressing the "POLITICS OF OTHER."

The women of Tanzania may not LOOK LIKE the majority of posters on this site however it does not make their struggles and victories less important!

It was the dismissal that was OFFENSIVE and spoke volumes. The ingrained lack of interest, desire to acknowledge and relate because THESE WOMEN DO NOT MIRROR THEIR IMAGE!

In the breastfeeding thread a blond haired blue eyed baby’s photograph was used. This technique is called the use of "Emotionalism." Present a baby of a specific ethnicity and watch the response. The response was overwhelming! Not only were the posters responding to the issue of breastfeeding. They were screaming in unison "I dare they not allow this mother to feed this beautiful baby!" Place a Tanzanian woman’s photograph and what was the response? If this had been a photograph and a thread about a European bank for women there would have been an outpouring of favorable responses. Thus I give you "THE POLITICS OF OTHER."

America’s issues must take precedence! However, this was a clear example of "THE CULTURAL AND SOCIAL HYPOCRISY IN THE POLITICS OF THE OTHER."