When you see a SELFINA entrepreneur whose business title is ‘restaurant’ or ‘café’, you may have to adjust your mental image of what that is. A local restaurant or café in Tanzania usually consists of a rough wooden table and some long, wooden benches, with the sky as a ceiling. Such places don’t even appear in the Lonely Planet’s budget guide, but if you’re looking for a cheap and tasty meal, and someone to have a chat with, this is the place to be. The food is all-local; rice, ugali (a hot sticky dough, made from maize flour), plantain (a cooked savoury banana), all served with beans, vegetables, meat, and a variety of yummy sauces.
SELFINA is engaged in the economic empowerment of women in Tanzania through the provision of a leasing and leaseback microfinance 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. 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.
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Success!! The loan was 100% repaid