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Banking on Women in Business - Case Study: Tanzania

Banking on Women in Business - Case Study: Tanzania

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Published by IFC Sustainability
The financial services sector in Tanzania is becoming more competitive. Banks are seeking new customers and opportunities to differentiate themselves. Meanwhile, research shows that women entrepreneurs who seek financing to develop their small and midsize firms
are vastly underserved. This case study highlights how Exim Bank is responding to these demands by dedicating lines of credit to women entrepreneurs running midsize enterprises through its new Women Entrepreneurs Finance Program with a $5 million credit line by IFC to finance the program, along with business advisory services funded in part by the Canadian International Development Agency.
The financial services sector in Tanzania is becoming more competitive. Banks are seeking new customers and opportunities to differentiate themselves. Meanwhile, research shows that women entrepreneurs who seek financing to develop their small and midsize firms
are vastly underserved. This case study highlights how Exim Bank is responding to these demands by dedicating lines of credit to women entrepreneurs running midsize enterprises through its new Women Entrepreneurs Finance Program with a $5 million credit line by IFC to finance the program, along with business advisory services funded in part by the Canadian International Development Agency.

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Categories:Types, Research
Published by: IFC Sustainability on Aug 25, 2009
Copyright:Attribution Non-commercial

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09/08/2013

Creating Opportunities...\ue000or Women
Banking on Women in Business:
Exim B\ue000nk, T\ue000nz\ue000ni\ue000
CLIENT CasE sTudy
January 2008
a Growing Opport\ue003nit\ue004

The fnancial services sector in Tanzania is becoming
more competitive. Banks are seeking new customers
and opportunities to di\ue000\ue000erentiate themselves. Mean-
while, research shows that women entrepreneurs who
seek fnancing to develop their small and midsize frms
are vastly underserved (see fgure below).

T\ue000pping the M\ue000rket with Help from IFC

Exim Bank is responding. It is the frst fnancial institution
in Tanzania to dedicate lines o\ue000 credit to women entre-
preneurs running midsize enterprises through its new
Women Entrepreneurs Finance Program. IFC is providing
a $5 million credit line to fnance the program, along
with business advisory services \ue000unded in part by the
Canadian International Development Agency.

In Tanzania, \ue000ew women possess land titles that can be
used as collateral \ue000or loans. As a result, their applica-
tions are o\ue000ten not taken seriously by bank o\ue000fcers.
While microfnance is increasingly accessible to women,
the maximum loan size and tenor \ue000rom microfnance
is o\ue000ten too low \ue000or SME owners. At the same time,
women entrepreneurs running midsize frms \ue000requently
lack \u201cproper\u201d credit history, as well as the training and
fnancial resources they need to gear up their businesses
\ue000or growth.

\u201cFemale-owned SMEs contribute jobs to our communi-
ties, and women have shown themselves to be good pay-
ers in many countries. Yet, the banking sector has done
little to help them in Tanzania. Our Women Entrepreneurs
Finance Program is more than just good business\u2014it\u2019s a
chance to show our innovative approach to the market,\u201d
says Exim\u2019s general manager, R. R. Chandramouli.

Exim has been working with IFC experts to take into
account the challenges that businesswomen \ue000ace when
applying \ue000or loans. Solutions include increasing Exim\u2019s
o\ue000\ue000ering o\ue000 structured fnancing to women entrepreneurs,
allowing them to use contracts with reputable companies
as collateral. One o\ue000 the impediments to women\u2019s busi-

\u201cLending to women entrepreneurs is part o\ue000 our fve-year plan to explore new areas o\ue000 growth.\u201d
\u2014 s. M. J. Mw\ue000mbenj\ue000, M\ue000n\ue000ging director, Exim B\ue000nk
Large
firms
Small
firms
47
28
27
8

Female-owned
businesses in
Tanzania

Male-owned
businesses in
Tanzania

Source: Doing Business database
More
Access
Access to bank finance
(percentage of firms with bank finance)
dr. Victori\ue000 Ki\ue002\ue004ombe of sero Le\ue000\ue002e \ue000n\ue001 Fin\ue000nce Lt\ue001., \ue000n
Exim B\ue000nk client.

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