By Ally Lynch | Campaign Specialist
Opportunity Tanzania achieved strong growth during 2011. As of September 30th, Opportunity Tanzania was serving 5,705 microentrepreneurs with loans, reflecting an 84% growth in just nine months, having begun 2011 with 3,093 clients.
Entrepreneurs like produce seller Joyce Williamson (pictured) are using loans to improve their businesses and generate more income for their families. Opportunity client Joyce Williamson sells produce in a market in Mwanga, Tanzania.
Joyce is the chairperson of the Upendo Mwanga Trust Group in Mwanga, and a mother of four who goes to two markets in nearby Moshi twice a week to purchase her produce stock and sell it locally. She knew that to meet her family’s needs she would need to expand, but without access to capital she found it impossible.
Now, through a small loan, she’s been able to increase her inventory, making larger purchases at lower costs, increasing her profit margin. In the future she hopes to expand her business further by investing in a new structure and she says for the first time ever she’s confident that she can send all four of her children to school.
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