A new bank created to empower women opened this week in Tanzania. The Tanzania Women’s Bank is based out of the Dar es Salaam, the nation’s capital. Though it was developed for women, men can also access the bank. While other banks in Tanzania require title deeds and proof of wealth to open an account, the new bank requires only 3000 Tanzanian shillings (2 US dollars), and an ID card or passport, according to The Examiner.
“The difference between us and other banks is that we are specifically designed to cater for women’s banking needs stemming from the fact that in the past most women were ignored in other conventional finance institutions,” Managing Director Margareth Mattaba Chacha told The Citizen. According to the BBC, 110 individuals opened accounts with the bank on its first day.
Funded by government coffers and the Ministry for Community Development, Gender, and Children, the bank plans to open branches in all of Tanzania’s 26 regions, creating a countrywide network for women.