Mambo from Dar es Salaam, Tanzania! This is Diana L.. She is a 25-year-old married woman with a five-year-old child. Diana also supports two other dependents who live with her because they are orphans and attend school in her neighborhood. She established a business selling cosmetics to local ladies in 2005 and currently earns a monthly profit of approximately US$ 120 from her store. Diana is requesting a loan of US$ 275 in order to purchase additional stocks of cosmetics in bulk. In the future she plans to expand her business further.
SELFINA has taken a lead role as a pioneer of micro-credit in Tanzania through Micro-Leasing. The organization is engaged in the economic empowerment of women in Tanzania through the provision of a leasing and leaseback microfinance facility. Customs and traditions in Tanzania make it difficult for women to own land and assets, thus they are termed non-creditworthy by financial institutions. This leads to poor financial support and poor access to basic needs and services for women with low incomes. One of the primary advantages of microleasing is that it allows clients to use the equipment as collateral for future loans with SELFINA, thus enabling them to borrow larger sums in the future.