Selina Ntandu

Status: Paid Back

$275.00		Loan Request
$275.00		Paid Back

About the Entrepreneur

Name:	Selina Ntandu
Location:	Dar Es Salaam, Tanzania
Activity:	Phone Accessories

About the Loan

Loan Amount:	$275.00
Loan Use:	To purchase additional stock of phone accessories for sale
Repayment Term:	14 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	Covered
Date Listed:	Jan 4, 2008
Date Disbursed:	Jan 18, 2008
Date Funded:	Jan 4, 2008
Loan Ended:	Oct 19, 2008

About the Field Partner

Field Partner:

Sero Lease and Finance Ltd. (SELFINA)

Field Partner Risk Rating:

(Learn more)

Active

24 months

2196

$1,021,325

0.00%

0.00%

Currency Exchange Loss Rate:

0.00%

About the Country

Country:	Tanzania
Avg Annual Income:	$723.00
Currency:	Tanzania Shillings (TZS)
Exchange Rate:	1,151.0000 TZS = 1 USD

Despite Tanzania's being a "developing" country, it is amazing how many people have mobile phones here -- not just professionals, but grandmothers in villages, school kids and street sellers. These phones are the only form of phone communication available to most people, because there are few landlines, and they are relatively inexpensive to own and use.

Selina Ntandu is one of the many sellers trying to satisfy Tanzania’s insatiable appetite for anything mobile phone-related. She owns a phone from which people can make calls, and sells phone credit and accessories (such as batteries, chargers, earphones and cases). Selina requires a loan of $275 to purchase more of this stock. At just 38 she is already a widow, and the business enables her to support her two children, Issak, 19, and Barnaba, 15.

About SELFINA

SELFINA is engaged in economic empowerment of women in Tanzania, where customs and traditions normally make it difficult for women to own land and assets. Because they lack tangible collateral assets, women are considered not creditworthy by financial institutions. This leads to poor financial support and poor access to basic needs and services for women with low income.

SELFINA has taken a lead role as a pioneer of micro-credit in Tanzania through Micro Leasing as a practical way to achieve economic and social emancipation of women. SELFINA buys equipment and leases it to women. When a client needs working capital, SELFINA buys equipment from her, extending her a loan, and then leases the same equipment back to her – a process called "sale and leaseback."

Lenders to this entrepreneur

Kjetil
Bergen, Hordaland
Norway

Paul
London, London
United Kingdom

Johann
Bath, Somerset
United Kingdom

Eric
Louisville, KY
United States

Brad Haddin
Cowra, New South Wales,
Australia

Rico
Frederiksberg,
Denmark

Monet E.
Sisters, Oregon
United States

Journal entries for Selina Ntandu

Loan has been disbursed Entrepreneur: Selina Ntandu Location: Dar Es Salaam, Tanzania Thank you for your loan. It has been disbursed to Selina Ntandu by Sero Lease and Finance Ltd. (SELFINA) in Tanzania. We are excited to watch this business grow. Over the next 12 months, Sero Lease and Finance Ltd. (SELFINA) will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.
Posted by from Dar Es Salaam, Tanzania Jan 18, 2008
Comment on this entry

Update on Selina Ntandu who received a loan from you through Kiva! Entrepreneur: Selina Ntandu Location: Dar Es Salaam, Tanzania Dear lenders, Mambo from Dar es Salaam and from SELFINA! Thank you for your loan through Kiva to Selina Ntandu, a SELFINA client and micro-entrepreneur. The purpose of this journal is to update you on Selina and the status of her business. As you know, your generosity helped Selina obtain a loan of $275 in February. Selina used to run a phone accessories store in the Ubungo bus terminal area of Dar es Salaam. However due to her business not making expected levels of profit and embezzlement of money by a former employee, Selina is no longer in the phone accessories business. She now runs two businesses in parallel – she is a seller of traditional African cloth in her neighborhood and also sells chicks and hens for a profit. Selina originally used the loan amount of $275 to buy more products for her mobile accessoties stall but when she decided to disband her business she sold her inventory and used the money to buy cloth and chicks in bulk. She buys chicks in wholesale at very cheap prices from the village, and retails them as hens in Dar es Salaam for a profit. Since she took out the loan, Selina’s monthly profits have increased from about $60 to approximately $90. She has used this money towards making loan repayments (on which she is ahead of schedule), as well as towards school and other expenses for her children. In the future, Selina is hoping to request a loan of $600 from SELFINA with which she aspires to open a general store. SELFINA aims to continue to assist Selina and other women like her and empower them towards financial security and increased confidence through microloans. Thank you very much for supporting Selina! To continue to support women like her and lend to SELFINA borrowers, please click here: http://www.kiva.org/app.php?page=businesses&partner_id=90&status=All&sortBy=New+to+Old&_tpg=fb
Posted by Nabomita Dutta from Dar Es Salaam, Tanzania Oct 9, 2008
Comment on this entry

Repayment Schedule for Selina Ntandu

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	Expected Repayments	Actual Repayments	Comments
April 2008	$22.92	$23.00	Repayment Received
May 2008	$22.92	$23.00	Repayment Received
June 2008	$22.92	$23.00	Repayment Received
July 2008	$22.92	$23.00	Repayment Received
August 2008	$22.92	$23.00	Repayment Received
September 2008	$22.92	$23.00	Repayment Received
October 2008	$22.92	$23.00	Repayment Received
November 2008	$22.92	$23.00	Repayment Received
December 2008	$22.92	$91.00	Repayment Received
January 2009	$22.92	$0.00	Repayment Received
February 2009	$22.92	$0.00	Repayment Received
March 2009	$22.88	$0.00	Repayment Received