Tanzania: Women’s Bank in Pipeline

Moving her ministry’s budget for 2008/09 financial year, Minister Sitta said the government would issue 2.1bn/- to enable the proposed institution get a licence from the Bank of Tanzania (BoT). Mrs Sitta said after obtaining the licence the bank would float shares to the public so as to raise at least 6bn/- before starting operations.

The minister said the establishment of the proposed bank was part of the government’s efforts on women empowerment. Several legislators while debating the budget proposals welcomed the establishment of the proposed financial institution. Some MPs said the bank for women development was long over due.

She asked the House to approve 14,665,870,000/- out of which 7,820,393,000/- is for recurrent expenditure and 6,845,477,000/- is for development projects. Mrs Sitta said her ministry has started initiatives that would enable more women in decision-making organs and attain the 50 per cent target by 2010.

She said her ministry in collaboration with various stakeholders would step up the campaign against violence on women in areas where such acts are rampant. She listed Mara, Mbeya, Mwanza and Shinyanga as regions where there were many reports of violence against women.

The minister said campaigns against female genital mutilation (FGM) and other harmful practices would be stepped up during this financial year. Mrs Sitta said her ministry was drawing up a new policy on early development of children. She said the policy was aimed at taking care of interests and rights of children aged below eight years. The National Assembly endorsed the budget.

Source: TSN Daily News – 6 August 2008