Gaudencia Kabaka issues stern warning to TWB’s loan defaulters

Dar es Salaam. The chairperson of the women wing of the ruling party (Chama Cha Mapinduzi), popularly known as UWT, Ms Gaudencia Kabaka, has called upon defaulters of Tanzania Women Bank (TWB) loans to repay within six days.

Her statement comes one day after the chairperson of the TWB board of directors, Mr Beng’i Issa, issued a seven-day ultimatum for the defaulters to repay the loans or face legal action.

Speaking in Dar es Salaam on Wednesday, March 7, Ms Kabaka said she was acting under the directive of President John Magufuli which was issued in December last year.

In December, Dr Magufuli directed the CCM’s women wing to sit down with TWB’s management in the endeavour to ensure that the bank’s services are made available to women in the rural areas.  

She said after the directive, she held talks with TWB’s management and board where she was informed that the bank was burdened with high levels of Non-Performing Loans (NPLs).

“As women, we are not ready to see a few influential women using the bank for their own benefits,” she said.

She said if the defaulters fail to repay the loans, the bank will auction their collaterals.