For eight years now, he has been running his life by managing a fish business. Makonge works from 7 a.m. to 6 p.m. per working day and is able to make a fair return per month.
From Tujijenge Tanzania, this is his third loan request, which he will use to increase his stock of fish in his business. With the previous loans, all of which he managed to pay back in full, he used to keep his business stock growing and maintain customers' demand, especially at the time of shortage.
With the profit, Makonge used it to cover his family's food, medical, and shelter expenses. He has paid school fees for his children. He dreams of buying a plot of land and building a nice family house.
Makonge will share this loan with his loan group" MKOMBOZI," which totals three members, who will hold one another accountable for paying back the loan.
About Tujijenge TanzaniaThis loan is administered by Tujijenge Tanzania, which was founded in 2006. It has operations in Dar es Salaam, the coastal region, and the Lake Victoria region. The organization aims to reach out to micro entrepreneurs and provide them with financial and social intermediation services because capital is one of the major barriers to development and success for micro-enterprise initiatives in Tanzania.
For more information on Tujijenge Tanzania, please visit its partner page, or join its lending team.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid