Providing Microloans for the Poor in Tanzania

 
$5,252
$0
Raised
Remaining
Jul 11, 2013

You are transforming entrepreneurs with training

Continuing its growth trend in 2012, Opportunity Tanzania achieved 18% increase in outreach despite high inflation, closing the year with 8,555 clients with loans. Amidst this time of growth, the team, led by CEO Stanley Tsikirayi, nearly doubled the value of its outstanding loan portfolio plus more than doubled its operational sustainability, an indicator of an increasingly healthier institution. Dedicated staff successfully offered clients support and mentoring, enhanced lending products to more closely match needs and provided targeted training – all through five branches. Additionally, during 2012, Opportunity Tanzania:

  • Developed School Fee and School Improvement loans for 2013 launch.
  • Piloted an Individual loan product in Dar es Salaam and Tengeru branches.
  • Increased mobile phone options for customers: now 10% of loans are disbursed via phone, reducing the risk associated with carrying cash for both clients and loan officers.
  • Conducted financial literacy training for loan officers who later train our clients.
  • Launched financial literacy training DVDs translated into Swahili, covering savings, record keeping and debt management, to clients beginning in January 2013.
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Organization

Project Leader

Ian Haisley

Director of Online Strategy
Oak Brook, IL United States

Where is this project located?

Map of Providing Microloans for the Poor in Tanzania