He is currently aged in his late 30s. Mustafa is married and taking care of his four children who are enrolled to school. For six years now, he has been running a genge duka retail shop, where he sells cooking oil, soaps, matchboxes, airtime, rice, beans and fruits and vegetables. He opens his shop from 6 a.m. to 10 p.m. per working day and is able to make a fair monthly profit.
This is his second loan request from Kiva partner Tujijenge Tanzania. He will use it to replenish out-of-stock stock products in his genge duka. Mustafa used his previous loan to restock his business for daily demand and has paid back the loan successfully. He used the business profit to cover his household and school expenses. In the coming days, Mustafa dreams of expanding his business more to earn a high return.
He will share this loan with his loan group, Makoka, which has two members who will hold each other 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