Equity, ADC Tanzania partner to empower 200,000 women SMEs

TANZANIA: THE Equity Bank Tanzania has partnered with ADC Tanzania Limited to equip women with the skills and knowledge to effectively use loans and funds to grow their businesses.

This collaboration is part of the ‘Jifunze Utoke’ programme which focuses on training women-led small and Medium enterprises (SMEs) on proper financial management , especially loans to expand their businesses and generate profits.

Equity Bank’s General Manager of Business Banking Ms Leah Ayoub said the goal is to build the capacity of women entrepreneurs by helping them meet the criteria necessary to access a wide range of financial services.

“With our commitment to empowering women in business, this partnership is a significant step toward improving access to financial services for female entrepreneurs and fostering sustainable economic growth,” said Ms Ayoub at the signing ceremony yesterday.

The Jifunze Utoke initative which is supported by the African Guarantee Fund (AGF) and AFAWA International Development Agency is designed to offer financial literacy and provide loans to 200,000 entrepreneurs, while also estimating to create direct employment for 500,000 people by 2030. Special focus will be to women-led enterprises.

Ms Ayoub said the programme’s primary objective of this initiative is to enhance the capacity of women in their businesses, enabling them to meet the criteria required to access various financial services, including loans provided by Equity Bank, in order to improve their social.

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She added that the Jifunze Utoke aligns with the lender’s strategic plan to support small and medium-sized enterprises (SMEs).

The ADC Tanzania’s Executive Director Ms Esther Kitoka underscored the organization’s role in facilitating consultations and offering business development services to MSMEs.

“This project aims to empower more women in the country by providing them with financial education, affordable loans, and specialised business advisory services so they can excel in their businesses,” she said.

Additionally, ADC’s Business Development Officer Ms Laura Vedasto said the initiative’s success depends on helping women understand how to utilise the funds effectively.

“It’s not just about receiving funds; it’s about empowering women with the skills to use those funds in a way that supports long-term business growth and profitability.

“We want them to see the benefits of their hard work while ensuring they can repay the loans,” she said.

Through the financial literacy and business acumen to manage their loans, the programme aims to create a sustainable model where women can grow their businesses, create jobs, and contribute to Tanzania’s overall economic development.

The initiative success depends on ensuring that women understand how to use the funds effectively to run profitable businesses.