Tanzania: Crdb's Imbeju Trains Over 10,000 Women

1 June 2023
Tanzania Daily News (Dar es Salaam)

CRDB Bank Foundation has educated 10,238 women entrepreneurs in financial matters before issuing loans to them through its Imbeju programme at the end of last month.

The Foundation Chief Executive Officer Tully Mwambapa said on Thursday that they managed to reach the number after partnering with various stakeholders and calling for women in mining sector to join the bandwagon.

"The bank is number one stakeholder in the mining sector in this country," Ms Mwambapa said during a Lindi Madini Festival organised by Tanzania Women Miners Association (TAWOMA) in Lindi.

CRDB, one of the largest banks in the country, has dished out 67bn/- in term of loans to the mining sector alone in the first quarter of this year.

"The bank," said the CRDB Foundation CEO, "urges women in mining to seize the opportunity offered by Imbeju to increase their capital base, affordably."

The TAWOMA forum centred on showing opportunities women could seize in the mining sector. The awareness activities projected to encourage more women to participate, especially in the graphite mining in Ruangwa, Lindi.

Additionally, early last year CRDB and State Mining Corporation (STAMICO) entered an agreement to enable small scale miners to access affordable loans form the lender.

CRDB used the mineral conference to offer financial, insurance, business operations, marketing, taxes, and business formalisation education to women through Imbeju programme.

TAMOWA Chairperson Ms Palina Ninja said they are looking forward to work with CRDB though asking banks to relax loaning conditions.

"We ask the bank(s) to relax the conditions to enable us accessing loans easily," Ms Ninja said "since women are good at paying loans."

Ruangwa District Commissioner Hassan Ngoma, who was the chief guest, said the government will continue to create friendly mining business environment to enable smooth participation for various investors.

"The government will continue to enact friendly policies to allow financial institutions to issue less than 10 per cent interest rate as it did in agriculture sector," Mr Ngoma said.

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