DCB Commercial Bank issues 47bn/- to Dar es Salaam women entrepreneurs

By: Unknown on 12:27 AM

DCB Commercial Bank

DCB Commercial Bank has issued loans to the tune of 47bn/- for 79, 464 women entrepreneurs (SMEs) groups based in Dar es Salaam with the objective of boosting the performance of small and medium entrepreneurs in Tanzania.

 

The loan-packages were disbursed last year through SMEs groups to Solidarity Group Leading and Super SCL products as part of the bank’s efforts to lift up the SMEs sub-sector, which is increasingly becoming a crucial pillar in the country’s poverty reduction initiatives, according to DCB Product Development and Marketing Manager, Boyd Mwaisame.

 

“The beneficiaries of the loans were in all the three Districts of Dar es Salaam Region. Kinondoni 35,640 SEMs got 21.bn/- while Ilala received 13.9bn/- that was given to 24,951cleints and Temeke secured 12.5bn/- for 18,873 women.

 

He said each entrepreneur received between  200,000/- and 10m/-.

He was speaking at the official opening of a meeting of Tanzania Women and Youth Development Society held in Dar es Salaam over the weekend.

 

The meeting was sponsored by DCB and attended by the organisation’s members, bank officials and other stakeholders in the SMEs sub-sector.

The DCB official appealed to the small and medium entrepreneurs (SMEs) in Tanzania to come forward and apply for the loan-services offered by the bank. 

 

He said that DCB Bank offers a wide range of loan-packages for SMEs, urging the latter to utilise the opportunity and apply for the loans to support their operations.

 

“Thorough assessment had been made on the loan-packages to make sure that they meet the needs of the potential applicants (small and medium entrepreneurs),” said Boyd.

 

Expounding, he said DCB bank’ loans attract  affordable interest rates, thus making it easier for SMEs to pay back the loans, on one hand and expand their businesses, on the other hand.

 

The loans he said would help SMEs’ businesses to improve substantially, increase profitability, thus enabling them to realise their ‘growth-dreams’ into large-sized businesses, in a short span.

 

“I believe each of you (SMEs) has a dream of becoming large-scale entrepreneur, which is a co-objective during the establishment of DCB Bank way back in 2002. That’s why we have set up practical mechanisms and strategies to assist SMEs translate these dreams into realities,” he said.

 

Appealing to SMEs to open an accounts with the bank, Boyd said loan-packages and other related services will benefit business people who have DCB bank accounts. “Today, DCB operation-staff will go around, distributing forms to those who want to open accounts so that they can start enjoying our loans-packages and numerous services offered by the bank. This is an opportunity which you should not miss, we have to decide now, not tomorrow,” stressed bank’s marketing manager.

 

In the same vein, the Executive Director  of Tanzania Women and Youth Development Society, Sophia Mwakagenda showered praises on DCB bank for sponsoring the event and stepping up strategic and implementable initiatives geared to improve operations of SMEs in the country.

 

“DCB is really determined and committed to improve our lives, as it offers loans and variety of services which have positively impacted on the lives of SMEs and millions of poor families in our country,” she said. 

 

Established in 2002 as a community bank, DCB bank targets small and medium scale entrepreneurs, providing them with financial support in order to lift their business and living standards, hence supplements government’ efforts aimed to get millions of Tanzanians out of abject poverty.