WHILE the world celebrates Women's Day, the Tanzania Private Sector Institute (TPSF) has emphasized that technology is an important resource in stimulating gender equality that will enable women to develop their businesses.

Giving her greetings for the celebration of the day, the Chairperson of TPSF, Angelina Ngalula said the institution she leads recognizes the contribution of women in economic, environmental and social changes for sustainable development while stressing: "There is a need to empower them to face the challenges they face."

This year's theme for women's day is 'DigitALL: Innovation and technology for gender equality.'

"There are more than 31.7 million women in Tanzania.

This number is valid because empowering women is 'smart economy' and equality and gender equality shape economic growth and human development," he said.

He added that entrepreneurs are facing many challenges as currently only 7.8 percent of women are able to get loans from banks compared to 22 percent of men.

Another challenge is marketing, getting information and their participation in the formal economy.

Chairman Ngalula has said that creativity and technology are the key to solving the challenges faced by women entrepreneurs.

The chairman of TPSF has called on the government, the private sector, civil society and development stakeholders to support the efforts taken by the institution he leads and collaborate to shape technology and innovation with the aim of empowering women.