In 2002, Anna established a tailoring business. Anna has already received and successfully repaid one loan from SELFINA, and now requests a new loan in order to buy more cloth for dress making.
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 credit worthy 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. When a client needs working capital SELFINA buys equipment from said client, extending a loan to her, then leases back the same equipment – a process called a sale and leaseback arrangement.
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