Zainabu Namalocho


Status: Paying Back

$250.00   Loan Amount
0% repaid

About the Entrepreneur

Name: Zainabu Namalocho
Location: Morogoro, Tanzania
Activity: Clothing Sales

About the Loan

Loan Amount: $250.00
Loan Use: To purchase additional cloth in bulk.
Repayment Term: 14 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Possible
Date Listed: Oct 16, 2009
Date Disbursed: Oct 30, 2009
Date Funded:Oct 16, 2009

About the Country

Country:Tanzania
Avg Annual Income:$723.00
Currency:Tanzania Shillings (TZS)
Exchange Rate:1,319.0000 TZS = 1 USD



Mambo (Greetings!) from Tanzania! This is 21 year old Zainabu S Namalocho from Morogoro. She is married with one child, who has four months old. Zainabu has been running an African traditional cloth since 2006.

She sells traditional clothing worn by Tanzanian women, called kanga and vitenge. The kanga is a piece of printed cotton fabric often with a border along all four sides. It is printed using the silkscreen method with its pattern in frames. Kitenge (the Swahili plural is vitenge) is a cotton fabric with wax print, printed by using rotary printing machines. Kitenge is a communicating textile - the various colors, patterns, writings and symbols represent moods, feelings, cultures, and traditions of native African people.

She works at the business for 9to 12 hours per day, seven days per week and she has no one to assist her. Zainabu is requesting a loan of 300,000 Tsh in order to purchase additional cloth in bulk. In the future, she plans to increase the quantity and range of the stocks. Zainabu thanks you for her support!

ABOUT SELFINA:
SELFINA has taken a lead role as a pioneer of micro-credit in Tanzania through Micro-Leasing. The organization is engaged in the economic empowerment of women in Tanzania through the provision of a leasing and leaseback microfinance facility. Customs and traditions in Tanzania make it difficult for women to own land and assets, thus they are termed non-creditworthy by financial institutions. This leads to poor financial support and poor access to basic needs and services for women with low incomes. One of the primary advantages of micro leasing is that is allows clients to use the equipment as collateral for future loans with SELFINA, thus enabling them to borrow larger sums in the future.


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Journal entries for Zainabu Namalocho


Loan has been disbursed
 
Entrepreneur: Zainabu Namalocho
Location: Morogoro, Tanzania

Thank you for your loan. It has been disbursed to Zainabu Namalocho by Sero Lease and Finance Ltd. (SELFINA) in Tanzania. We are excited to watch this business grow. Over the 11 months of this loan, Sero Lease and Finance Ltd. (SELFINA) will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Morogoro, Tanzania
Oct 30, 2009
Comment on this entry

Kiva Help Repayment Schedule for Zainabu Namalocho

  Expected Repayments Actual Repayments Comments
January 2010 $20.83 Available Jan 1  
February 2010 $20.84 Available Feb 1  
March 2010 $20.83 Available Mar 1  
April 2010 $20.83 Available Apr 1  
May 2010 $20.84 Available May 1  
June 2010 $20.83 Available Jun 1  
July 2010 $20.83 Available Jul 1  
August 2010 $20.84 Available Aug 1  
September 2010 $20.83 Available Sep 1  
October 2010 $20.83 Available Oct 1  
November 2010 $20.84 Available Nov 1  
December 2010 $20.83 Available Dec 1