A Research Report Submitted in Partial Fulfillment of the Requirement For an Award of Master’s Degree Business Administration in Corporate Management of Mzumbe University.Microfinance institutions are most important in Tanzania, whereas the government had focused its attention in recent years in pursuit of its long-term vision of providing sustainable financial services to the people in need. The General objective of this study was to find out the impacts of the women bank on economic empowerment of women in Tanzania, with reference from Kigamboni Municipality. Specifically, the study relied on three specific objectives namely: to investigate the types of services offered by TWB for empowering small entrepreneurs; to assess the impact of services offered by TWB on women entrepreneurs’ empowerment; and to identify factors hindering TWB in empowering women entrepreneurs economically. Likewise, the study involves both primary and secondary sources of data which was gathered through questionnaire, interviews and documentation review. The data collected was analyzed qualitatively and quantitatively. Quantitatively the data obtained was presented on table by percentages for quantification purposes by using spreadsheet computer programme (SPSS) whereby all required measurements were presented in tables and percentages. The study further found that Tanzania Women Bank play vital role in enhancing women empowerment through offering women engaged in business with various services such as loans services and business related training. Likewise, the study discovered that TWB is faced by various challenges in ensuring women are economically empowered. The indicated challenges among others includes incapacity to loan repayment, low entrepreneurship knowledge, skills and experience, limited level of business experience and low level of education and awareness over fiscal assess and their interests. It would be further recommended that the management of microfinance institutions should come up with policies that should enable those without collateral to acquire loans, financial innovations in order to reduce the bureaucratic procedures of acquiring loans, train women on risk and financial management, the Tanzania government should come up with regulatory procedures of regulating rates of interest to avoid MFIs capacity to exploit women borrowers.