Tanzania Women's Bank Limited

Last updated
Tanzania Women's Bank Limited
Type Public Limited Liability Company
DSE: TWB
Industry Financial services
Founded2007
Headquarters Dar es Salaam, Tanzania
Key people
Japhet Justine
Managing Director
Products Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages
Website Homepage

Tanzania Women Bank Limited (TWBL) is a Tanzanian bank that specialises in providing financial services to women. It is listed as a "Registered Financial Institution" by the Bank of Tanzania, the central bank and national banking regulator. [1]

Contents

Overview

The bank is a small financial institution in Tanzania. As of January 2016, the bank's shareholders' equity was valued at TSh 8.5 billion (approx. US$4 million). [2]

History

The idea to start a Women's Bank in Tanzania began in 1999, when a number of female entrepreneurs approached the then President of Tanzania, Benjamin William Mkapa, with the idea. Eight years later, in 2007, the Tanzania Women's Bank Limited (TWBL) was created. The bank officially opened for business on 28 July 2009. TWB's aim is to empower women economically and socially. It serves all segments of society including low income earners, large corporations and small and medium enterprises (SMEs). [3]

Ownership

From the time of its creation, in 2007, as a private limited liability company, 97% of the shareholding in the stock of the bank was owned by the Government of Tanzania. The remaining 3% was owned by private institutions and individuals. In August 2012, the Tanzanian government began the process of listing the shares of the bank's stock on the Dar es Salaam Stock Exchange (DSE), through the issuance of an initial public offering (IPO). The bank changed its official name to Tanzania Women's Bank Public Limited Company, in keeping with the change in ownership to a public limited liability company. The shares of TWB were listed on the DSE in 2012. [4]

Branch network

As of November 2014, the bank maintains branches at the following locations: [5]

  1. Mkwepu Branch - Old Post Office Building, Mkwepu Street, Dar es Salaam
  2. Kariakoo Branch - Aggrey Likoma Street, Dar es Salaam
  3. Dodoma Branch - Posta/TTCL Building, Railway Road, Dodoma
  4. Mwanza Branch - Old Post Office Building, Posta Road, Mwanza

See also

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References

  1. ↑ "Directory of Financial Institutions Operating in Tanzania". Bank of Tanzania (BOT). Retrieved 22 November 2014.
  2. ↑ "Tanzania: Women's Bank for Expansion". Tanzania Daily News (TDN) via AllAfrica.com . Dar es Salaam. 29 January 2016. Retrieved 31 January 2016.
  3. ↑ "Tanzania Women's Bank History". Tanzania Women's Bank (TWB). Retrieved 22 November 2014.
  4. ↑ Mrindoko, Sebastian (8 August 2012). "Tanzania: Women Bank Goes Public". Dar es Salaam: Tanzania Daily News via AllAfrica.com . Retrieved 22 November 2014.
  5. ↑ "The Branches of Tanzania Women's Bank". Tanzania Women's Bank (TWB). Retrieved 22 November 2014.
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