Shamim Maneno

Shamim Maneno has been operating a charcoal sales business since 1998. Notably, many Tanzanians use charcoal for fuel to cook their daily meals; indeed, women cook food in small coal pots, in which they arrange mkaa (charcoal) and add either paper, dry grass, old plastic bags, or kerosene in order to light the charcoal. Fortunately, there is a high demand for charcoal across the country, so charcoal-selling is quite a lucrative profession. She works at her business 16 hours per day, 7 days per week, though she notes that she receives assistance from one employee. In doing so, Shamim currently earns approximately $440 per month from her business operations. She is now requesting a loan in the amount of $425 in order to purchase more charcoal for resale purposes. In the future, she plans to expand her business. Shamim thanks you for her support!

ABOUT SELFINA: SELFINA is engaged in the economic empowerment of women in Tanzania through the provision of a leasing and leaseback micro-finance facility. Customs and traditions in Tanzania normally make it difficult for women to own land and assets, thus they are not considered to be credit-worthy by financial institutions because they lack tangible assets that can serve as collateral. As such, low income women in Tanzania typically receive poor financial support and in turn only limited access to basic needs and services. Fortunately, SELFINA has been a pioneer of micro-credit in Tanzania through micro-leasing to achieve the economic and social emancipation of women in Tanzania. Simply put, SELFINA buys and leases equipment to women through an arrangement called a sale and leaseback transaction. More specifically, when a client needs working capital, SELFINA buys equipment from said client, extends a loan to her to facilitate the transaction, and then leases the equipment back to her. As such, one of the primary advantages of micro-leasing is that it allows clients to use their equipment as collateral for future loans with SELFINA, thus enabling them to borrow larger sums in the future.