Majaliwa urges women to seize loan opportunities from TCB
The Chief Executive Officer of the Tanzania Commercial Bank (TCB), Adam Mihayo, briefs Prime Minister Kassim Majaliwa on the bank's services during his visit to the TCB pavilion at the International Women’s Day Symposium for the Southern Zone, held at the Maegesho grounds in Nachingwea, Lindi
What you need to know:
- Prime Minister Kassim Majaliwa made these remarks today, Thursday, 6 March 2025, during a symposium marking International Women’s Day (IWD) in the Southern Zone, held at the Maegesho grounds in Nachingwea, Lindi region. The symposium covered various topics concerning the advancement of women.
Dar es Salaam. The government has called on women across the country to take advantage of the 10% loan scheme provided by local authorities to empower themselves economically.
Additionally, women have been encouraged to utilise the services of the Tanzania Commercial Bank (TCB), one of the financial institutions entrusted with coordinating these loans.
Prime Minister Kassim Majaliwa made these remarks today, Thursday, 6 March 2025, during a symposium marking International Women’s Day (IWD) in the Southern Zone, held at the Maegesho grounds in Nachingwea, Lindi region. The symposium covered various topics concerning the advancement of women.
Majaliwa emphasised that TCB is well-prepared to facilitate access to affordable loans, urging women in all districts of Lindi and other regions to take advantage of the opportunity.
“Decide today that you will not be left behind—if you want a loan, you will get it. Make your decision now. TCB has come forward to present these opportunities and open doors for you. They have introduced several financial products that can help you start and grow your businesses,” he stated.
According to Majaliwa, financial institutions managing the 10% loan scheme—allocated from local government revenues to support women, youth, and persons with disabilities—will streamline access to loans, ensuring the intended beneficiaries receive timely support.
The government has recently implemented a new system that allows banks and financial institutions to oversee loan disbursements to these groups, guaranteeing that the funds reach those who need them most.
Previously, the government had suspended the loan programme due to widespread defaults, with some beneficiaries failing to repay their loans on time—or not at all—hindering the effectiveness of the initiative, which aims to uplift marginalised groups and stimulate national development.
Moreover, some dishonest officials and politicians were accused of creating fictitious groups to exploit the scheme, prompting the government to revise the loan disbursement process to enhance efficiency and transparency.
TCB’s Chief Executive Officer, Adam Mihayo, stated that the bank has strengthened its human resource capacity to improve the delivery of financial services to women, youth, and persons with disabilities.
Mihayo reaffirmed TCB’s commitment to gender equality, highlighting that the government, through the Ministry of Community Development, Gender, Women, and Special Groups, had honoured the bank by appointing it as the chair of an international committee dedicated to advancing women’s economic empowerment.
“We are ready to serve you through our products, available at our branches nationwide. We have tailored financial solutions specifically for women, as we are committed to promoting their empowerment and well-being,” Mihayo said.
He also noted that TCB has enhanced its Tabasamu account, a specialised savings product for women. The Tabasamu account was originally launched on 28 March 2019 by then-Vice President, now President, Samia Suluhu Hassan.
Following significant improvements aimed at empowering Tanzanian women both now and in the future, Mihayo announced that the Tabasamu account will be reintroduced with upgraded features.
