CRDB BANK PLC The largest lender in the land announced the cutting down of the opening fee from 50,000/- to 5,000/- at the weekend during a one-day seminar for Ubungo municipal women.
"We have reduced the fee because we want more women entrepreneurs to open and access credit," Mr Idd said.
Through Malkia Account, the bank has already issued over 500bn/- and doors for borrowing are still open to utilise the service.
Opening the seminar on behalf of Ubungo Municipal Director, Municipal Legal Officer
"The bank's move to lower interest rates reduces the burden of repayment on women and makes them invest more in their businesses and benefit more," Ms Mbila said.
A loan is easily accessed through group lending. The group acts as a loan security, thus reducing default risks.
"Through the group it is easy for a woman to get a loan to start a business and when she does well it enables her to get a personal loan to further her business," said Ms Mbila.
The municipal legal officer wooed women to utilise the opportunity since not all banks in the country were offering as low as 14 per cent interest for women.
She said if a woman was economically empowered the entire society was in good economic condition.
CRDB Mbezi Louis Branch Manager Agnes Kisinini said Malkia Account enabled a woman to achieve her ambition by making savings slowly depending on her incomes.
Malkia Account centred on recognising and enabling a woman to achieve their goals through business and entrepreneurial loans while making savings.
To further enable women entrepreneurs in realising their goals, the bank also has embarked on an education programme by introducing 'Malkia Rafiki' (
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