TWB to list on the bourse, open more branches upcountry

By Beatrice Philemon

Managing Director of TWB, Margareth Chacha

 TANZANIA Women Bank (TWB) will soon list on the Dar es Salaam Stock Exchange (DSE) in a move to raise its capital base.

 

It is expected that after the listing, the bank would open more branches up-country to take services closer to its customers as well as improve its information technology services.

 

The TWB’s Managing Director, Margareth Chacha told The Guardian last Friday that the main goal is to reach more customers especially those based up-country  in providing banking services to them,  attract more shareholders and contributes to the country’s economic growth.

 

“At the moment the bank is in a good position, and the government has allowed us to sell shares to the public,” she said.

 

Plans are underway and the price will be announced very soon once the process is finalised.

 

“We plan to open more branches in other regions because we have more customers who need our services,” she said, noting that through DSE the bank will get more funds to boost its capital base.

 

Besides, the bank will continue to provide new products that will be suitable to its customers.

 

TWB officially opened its doors to the public in July, 2009 targeting women entrepreneurs as former President Jakaya Kikwete’s administration moved to empower them economically.

 

But TWB also serves other vulnerable groups in the society low income earners, small businesses and corporate clients of all sizes and Small and Medium Enterprises (SMEs).

 

Tanzania Women’s Bank was created, incorporated and registered as a limited liability company with a shareholding structure comprising of 97 percent government and 3 percent private individuals and entities.

 

Once listed, the TWB will become the fifth commercial bank to list at the bourse. Others listed are CRDB Bank Plc, National Microfinance Bank Plc, Mkombozi and Maendeleo Commercial Banks respectively