Legislators want women’s bank audited, govt says already done

Members of Parliament want accounts of the Tanzania Women bank (TWB) to be audited following allegations of fund misappropriation within the institution.


Speaking in Dodoma during a question and answer session, Christowaja Mtinda Special Seats Legislator (Chadema) said the bank’s accounts are not audited by the Controller and Auditor General since its establishment in 2007.

Mtinda noted that TWB is owned by government (99percent) and 1 per cent is public shares and the bank’s total capital during the year 2012/13 was 6.7bn/-.

Grace Kiwhelu Special Seats legislator (Chadema) asked the bank’s management to convene a stakeholder’s general meeting to discuss the matter.

Responding , the Deputy Minister for Community Development, Gender and Children, Dr Pindi Chana, said the bank’s accounts were audited  in December last year.

She noted that the bank has opened two branches in Dar es Salaam and over 50 centres spread out in Dodoma, Mwanza, Mbeya, Njombe, Ruvuma and Iringa regions.

She said TWB plans to establish branch offices targeting small scale businesses and women entrepreneurship groups in the Isles and on the Mainland.

However, no details were given as to whether any other auditing will be done nor were the audit report results of the said December auditing last year made public.

 In 1999, a group of women entrepreneurs from all across Tanzania voiced their idea to have a "Women's Bank" to the then President of the United Republic of Tanzania, Honourable Benjamin William Mkapa. They expressed their idea at the Dar es Salaam International Trade Fair organised by the Equal Opportunities for All Trust Fund (EOTF) and Federation of Association of Women Entrepreneurs in Tanzania (FAWETA).

With a focus on interests and policies that favoured women empowerment, these women's wishes were granted by the government, who partnered with the Ministry of Community Development, Gender and Children (MCDGC), Ministry of Finance and the Bank of Tanzania (BoT) to facilitate the establishment of the "Women's Bank".

In 2007, eight years later, TWB was created, incorporated and registered as a limited liability company with a shareholding structure comprising of 97 per cent government and 3 per cent private individuals and entities.

TWB officially opened its doors to the public on the 28th of July 2009 with focus on female entrepreneurs in line with the Bank's mission, to empower women economically and socially.