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Latifa
Mambo from Tanzania! Latifa R. was born thirty-five years ago; she's married with two children, ages 10 and 16. In 2005, Latifa established her poultry business (kuku) which enables her to earn a monthly profit of 500 USD. Raising kuku is a popular micro-business in Tanzania, especially amongst SELFINA clients. Who or what are "kuku," you may ask. Kuku means "chickens" in Swahili, and raising them for sale is popular for a number of reasons. They require little start-up capital: you can start with two and wait for them to multiply naturally! They also require little space, so sometimes you can just let them run around in your garden or compound. Latifa is requesting the loan of 875 USD in order to purchase 400 chicks and additional feed. In the future, Latifa plans to buy even more chicks and expand her business further!


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
  • 35
    View loans »
    Tanzania Loans Fundraising
  • $14,897,325
    Funds lent in using Kiva
  • 1,158.0
    Tanzania Shillings (TZS) = $1 USD

Success!! The loan was 100% repaid

A loan of $875 helped Latifa to buy additional chicks and feed for her poultry business.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
Sep 13, 2008
Listed
Aug 30, 2008
Currency Exchange Loss:
Covered
Ended:
Aug 15, 2009