Providing Microloans for the Poor in Tanzania

by Opportunity International
Vetted

Summary

A striking 90% of Tanzanians live on less than $2 per day and 89% are either completely excluded from the financial system or only have access to informal financial services.
$5,252
total raised
30
donors
0
monthly donors
6
years active

Challenge

By gaining the funding to open this branch and later satellite branches to reach surrounding rural areas, Opportunity Tanzania will provide loans, savings and crop insurance to poor entrepreneurs. Thereby, being able to assist them in opening and expanding their own businesses, creating a sustainable and profitable living with which to support their families and create jobs for others.

Solution

Opportunity currently serves 3,625 active loan clients through the Dar es Salaam region. The average client loan size is $320. Clients use this money to start or expand their businesses.

Long-Term Impact

By opening the bank and providing microfinancing services, poor entrepreneurs in Tanzania will have the opportunity to work their way out of poverty. The microfinancing services allow the entrepreneurs to create a better life for their families.

Additional Documentation

This project has provided additional documentation in a Microsoft Word file (projdoc.doc).

Resources

Opportunity International Corporate Site
Opportunity International Peer to Peer Donation
Opportunity International Blog

Organization Information

Opportunity International

Location: Chicago, IL - USA
Website: http:/​/​www.opportunity.org
Project Leader:
Ian Haisley
Director of Online Strategy
Oak Brook, IL United States

Funded Project!

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

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