Empower Mothers in Tanzania with Microloans

 
$1,203
$0
Raised
Remaining
May 23, 2012

Transform Women, Families and Communities

Lisa Msuya an Opportunity Client in Tanzania
Lisa Msuya an Opportunity Client in Tanzania

Did you know that 90% of Tanzanians live on less than $2 a day? We can do something about that.

Tanzania is one of the poorest countries in the world. Approximately 90% of Tanzanians live on less than $2 per day and 60% live on less than $1 per day. However, Tanzania is also a place thriving with potential. One out of every three Tanzanians is self-employed. Less than 5% of the population has access to formal banking institutions. Recognizing this great need, Opportunity is building a bank for people living in poverty. Since 2008, Opportunity has doubled its outreach in Tanzania and is in the process of converting into a deposit-taking institution. This is progress, but there is much work still to be done.

By contributing to this initiative, you are helping to expand access to financial services so that more people in Tanzania will be able to secure their savings, borrow capital for their businesses, receive training to develop professional and life skills, and purchase insurance to protect their assets. With your help, we can empower people to work their way out of chronic poverty, to transform their lives, their children's futures and their communities.

Take for example, Lisa Msuya, a model of transformation in her community. She came to Opportunity Tanzania with a dream of opening a women’s clothing store. With her first loan of  $115 and valuable business skills training, she opened a small boutique. But, Lisa didn’t stop there. Her boutique has been well received by the community and she has taken out additional loans to start a men’s clothing shop, a barber shop and a dry cleaners. Today, Lisa is the successful operator of four businesses in Dar es Salaam and she employs three workers from her community, where work is not easy to come by. “I am grateful that I can send my son to school and proud of the fine example I am setting for him.” 

Comments:

About Project Reports

Project Reports on GlobalGiving are posted directly to globalgiving.org by Project Leaders as they are completed, generally every 3-4 months. To protect the integrity of these documents, GlobalGiving does not alter them; therefore you may find some language or formatting issues.

If you donate to this project or have donated to this project, you will get an e-mail when this project posts a report. You can also subscribe for reports via e-mail without donating or by subscribing to this project's RSS feed.

Funded

Combined with other sources of funding, this project raised enough money to fund the outlined activities and is no longer accepting donations.

Still want to help?
Support another project run by Opportunity International that needs your help, such as:

Organization

Project Leader

Ally Lynch

Oak Brook, IL United States

Where is this project located?

Map of Empower Mothers in Tanzania with Microloans