Source: East African Business Week
A total of 87 women entrepreneurs based in Temeke, one of the Dar es Salaam capital city's municipals have received interest-free loans worth Tsh5m ($3,084) through Vodacom Foundation's M-Pesa Women Empowerment Initiative (MWEI).

Speaking during the verification process, and the loan awarding ceremony in Dar es Salaam last week, Vodacom Foundation's Manager, Ms Grace Lyon said the mobile phone recognizes the resourcefulness, creativity, and clear objectives that the women of Tandika and stereo markets in Temeke have in their efforts to improve their economic well-being.

"Most of these entrepreneurs cannot qualify for loans from many financial institutions, however through MWEI we are able to extend interest-free loans of between Tsh50,000 ($30.84) and Tsh100,000 ($61.67) to them," Ms Lyon said.

According to her, the loans were designed to boost their capital and along with the loans advice on how to best utilize them.

Ms Lyon elaborated further that to date MWEI has benefitted more than 7,000 women both on the mainland and isles, who have gone on to improve their incomes and effect an economic revolution through their businesses.

The aim of MWEI, she said, is to uplift women economically particularly in rural areas so that they too can make a meaningful contribution to their families thus drives forward progress within their families and eventually the nation at large.

She pointed out that she is impressed by the efficiency with which the women have been able to settle their loans on time, urging that the same positive record continue to be emulated and maintained by every woman.

On her side, the event guest of honour, Deputy Minister of Community Development, Gender and Children, Ms Ummy Mwalimu encouraged the women to ensure they use the loans for their intended aims only, and settle them timely so that other women can also benefit from the privilege.

Minister Mwalimu said that under ordinary circumstances it is a rarity to find an institution ready to provide loans to entrepreneurs of this caliber without interest or conditions that would otherwise make it difficult for them to access such a facility.

For Vodacom Foundation, he said, this is a remarkable way of recognizing the women's confidence in taking full advantage of the project to enhance their own economies.

"It is evident Vodacom understands that when you empower a woman you empower a whole community, and even better they extend these loans without any discrimination or bias regardless of whether a woman is their customer or not," she said. It is clear that the foundation's conscience aims at fostering a culture of working together towards complete economic development for women and the nation, she said.

The minister called on the wider community to support Vodacom Foundation's efforts which bear testimony to its commitment to social and economic development as seen in various programmes on education, health and clean water, and women entrepreneurship.