On May 20th, 2024, Equity Bank Tanzania unveiled a groundbreaking initiative aimed at empowering women in business, titled WanawakePlus. The launch event, held at the Serena Hotel, was inaugurated by the Minister for Women, Children, Youth, and People with Disabilities. Distinguished guests included Ambassador Mary Yvonne Poole from the Embassy of Seychelles, Esther Swai from Jubilee Insurance, Prosper Charles from the African Development Bank’s AFAWA (Africa Finance for African Women) wing, various NGO representatives, women customers and partners, as well as Equity Bank’s Group representative from Nairobi. Leading the Tanzanian team was Isabela Maganga and her colleagues.
WanawakePlus is part of Equity Bank’s comprehensive six-part strategy which aims to:
- Drive higher productivity and output in agriculture
- Encourage value-adding ecosystems
- Stimulate intra-continental trade
- Catalyze entrepreneurship and connect to value chains and trade corridors
- Champion social and environmental transformation
- Accelerate wealth transformation through a digitally enabled economy
The business case for focusing on women is compelling. Globally, 54% of SMEs are owned by women, who exhibit positive risk behavior and have a strong propensity to save. They are crucial links to family finances and contribute significantly to economic growth as entrepreneurs, leaders, workers, and consumers.
Understanding and addressing women’s specific needs has been a cornerstone in the design of WanawakePlus. The initiative aims to provide targeted support and resources to women entrepreneurs and business leaders, fostering an environment where they can thrive and drive economic transformation.
The launch of WanawakePlus signifies a major step forward in promoting gender equality in the business sector and empowering women to achieve their full potential. As Equity Bank continues to champion social and economic progress, initiatives like WanawakePlus will undoubtedly play a pivotal role in shaping a more inclusive and prosperous future.
In conclusion, the WanawakePlus initiative is not just a program; it is a commitment to harnessing the power of women in business. By providing the necessary support and resources, Equity Bank Tanzania is paving the way for a brighter and more equitable future for all.
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