EQUITY Bank Tanzania has entered into an agreement with ADC Tanzania, a business consultancy institution aimed at groundbreaking projects aimed at economically empowering women in the country.

The bank’s Business Manager, Leah Ayoub, said that the agreement signed in Dar es Salaam on Wednesday this week will be implemented in collaboration with the African Guarantee Fund’s International Development Institute (AFAWA). 

She said the project aims to build the capacity of women entrepreneurs equipping them with the skills needed to meet the criteria for accessing various financial services, including loans from the bank. 

She said the move was expected in turn,  to enhance their social and economic well-being.

Ayoub emphasized the initiative aligns with the bank's strategic goal to expand its services to small and medium-sized enterprises (MSMEs), with a target of directing 65 percent of its total lending to MSMEs by 2030.

"Empowering women in business is a crucial step towards improving access to financial services and fostering sustainable economic growth," she said.

 "This partnership will help women entrepreneurs gain the tools and resources they need to succeed."

The project will provide a comprehensive approach to empowering women offering financial education, affordable loans, and specialized business advice.

Laura Vedasto, Business Officer at ADC Tanzania, shared that the program would include the introduction of "Learn and Thrive," a tailored initiative designed to teach women business strategies that will help them grow and sustain their businesses.

Through the collaboration, the bank reaffirms its commitment to strengthening economic resilience and promoting social inclusion in the country particularly for women entrepreneurs.