Initiative: Women-Centered Finance with Education
BRAC started its operations in Tanzania in 2006 by adapting and implementing its comprehensive development model. The organization provides programs in microfinance, small enterprises development, education, agriculture, poultry and livestock and empowerment and livelihood for adolescents. Microfinance is an integral part of BRAC Tanzania’s holistic development efforts, focusing on poverty alleviation through provision of affordable and easily accessible microloans from branches across the country. The key objective of their microfinance and small enterprise program is to increase access to financial services, especially for women who are excluded by the mainstream financial system. The majority of BRAC Tanzania’s staff are women.
FINCA Tanzania
Initiative: Rural-Centered Finance with Education
FINCA Tanzania is a regulated deposit-taking microfinance institution in Tanzania. FINCA Tanzania is a member of the FINCA International MFI network which includes four other country subsidiaries in Africa; DRC, Mali, Nigeria and Uganda. Finca Tanzania have a deliberate strategy to deepen agriculture financing both for the social impact and also based on the opportunities given that Tanzania has rich agronomic potential. They provide holistic banking services including savings products, loan products and other services such as payment solutions, cash management, payroll, mobile banking etc. FINCA takes an integrated approach to financial inclusion with four primary facets: financial intermediation through the provision of loans, savings and insurance products tailored to local needs; social intermediation typified by the financial literacy training and support embedded in the group and village bank loan programs; enterprise development; and social service impact by leveraging the FINCA network to provide support in the areas of education, health, nutrition and financial literacy training.