Mambo from Dar es Salaam! This is 30 year-old Magdalena M.. She is widowed with three children, aged 9, 12, and 13, and has one other dependent, who is her nephew. In 2003 Magdalena established a clothing business, and now requires a loan of $275 in order to purchase additional stock in bulk. She thanks you for your support.
SELFINA is engaged in economic empowerment of women in Tanzania through leasing and leaseback facility as a practical way to achieve the economic and social emancipation of women.
SELFINA has taken a lead role as a pioneer of micro-credit in Tanzania through Micro-Leasing. Customs and traditions in Tanzania normally make it difficult for women to own land and assets, thus they are termed not-creditworthy by financial institutions as they lack tangible collateral assets. This leads to poor financial support hence poor access to basic needs and services for women with low incomes.
SELFINA buys and leases equipment to women. Where a client needs working capital SELFINA buys equipment from said client, extending a loan to her, then leasing back the same equipment – a process called a sale and leaseback arrangement.