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Joyce
Mambo from Tanzania! Joyce is a forty-five-year-old single mother with one child and an additional dependent, an orphan who is a relative. She owns a soft drink store in Dar es Salaam, which she runs with two employees. It is said that "Coca Cola" is one of the most recognized symbols or names in the world. And it's true. Even in the most remote villages in Africa, there is usually some kind of "bar" selling Coke, Fanta, and Guiness. The hot weather makes soft drinks all the more appealing, which explains why selling soft drinks is such a popular venture. Joyce's monthly profit from her store is approximately 100 USD. She is requesting a loan of $525 to purchase additional soft drinks and equipment like refrigerators for her store.


SELFINA has taken a lead role as a pioneer of microcredit in Tanzania. The organization is devoted to the economic empowerment of women in Tanzania through microfinance as a practical way to achieve the economic and social emancipation of women. Customs and traditions in Tanzania normally make it difficult for women to own land and assets; because of this, they are deemed non-creditworthy by financial institutions. This leads to poor financial support, hence poor access to basic needs and services. When a client needs working capital to buy a specific item, SELFINA buys the equipment for said client and extends a loan to her. The same equipment is then leased back to the client so they can use it while in process of paying back their loan, a process called a sale-and-leaseback arrangement. Once the loan has been repaid, SELFINA transfers the ownership of the equipment to the client. The advantage of microleasing over traditional microfinance loans is that is allows clients to use the equipment as collateral for future loans with SELFINA, thus enabling them to borrow larger sums in the future.

About Tanzania

  • $1,900
    Average annual income
  • 38
    View loans »
    Tanzania Loans Fundraising
  • $14,895,100
    Funds lent in using Kiva
  • 1,158.0
    Tanzania Shillings (TZS) = $1 USD

Success!! The loan was 100% repaid

A loan of $525 helped Joyce to purchase additional soft drinks and a refrigerator.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
Aug 31, 2008
Listed
Aug 17, 2008
Currency Exchange Loss:
Covered
Ended:
Jul 15, 2009