Closing the Gender Financing Gap: AFAWA Brings New Opportunities to Tanzania
The AFAWA Finance Series has arrived in Tanzania, bringing together banking leaders, policymakers and entrepreneurs to tackle the barriers women-led businesses face in accessing finance.
For many women-led businesses in Tanzania, securing funding has long been a challenge, with collateral requirements, high interest rates, and limited financial products acting as major barriers. But a new initiative is changing the game.
The AFAWA Finance Series recently kicked off in Dar es Salaam, bringing together financial sector leaders, Government, policymakers, and entrepreneurs to discuss real solutions for closing the USD 42 billion gender financing gap in Africa. Organized by the African Development Bank (AfDB) in partnership with the African Guarantee Fund (AGF) and the Tanzania Bankers’ Association (TBA), the event focused on de-risking loans to women entrepreneurs and encouraging banks to expand financial products for them.
Over 200 participants, including top government officials and banking executives, explored how initiatives like AFAWA’s Guarantee for Growth (G4G) program can support women SMEs. More than just talk, the event led to a key agreement between AfDB, AGF, and CRDB Bank—one of Tanzania’s largest financial institutions—to expand lending opportunities for women-led businesses.
During the opening ceremony, Tuse Joune (President, TBA) highlighted the importance of financial inclusion, stating that empowering women financially means empowering entire communities. Lawrence Mafuru (Deputy Permanent Secretary, Ministry of Finance and Planning) emphasized the economic benefits of supporting women entrepreneurs, while Hon. Exaud Kigahe (Deputy Minister, Ministry of Investment, Industry, and Trade) reinforced the government's commitment to creating a more supportive environment for women-led businesses.
With the AFAWA Finance Series expanding to other African countries, the hope is to reshape gender finance across the continent.
