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Mt Udzungwa Group
In this Group: Laurent, Exavery, Mkadimba
Laurent is the father of three sons and one daughter who are in school. He is a married man and known for being an entrepreneur of different enterprises. He is a house building constructor, but his work itself cannot make him meet his dream. Despite being a constructor, Laurent has three businesses which enable him to generate a better extra income per month. He manages a shop selling clothes, another shop selling phone accessories and a food business selling chips with fried chicken and other meat fried in pieces (mishkaki). Since he is married, his wife is the supervisor of all the businesses and also runs the clothes shop. Every night after he gets back from his job he normally cross checks all the sales of the day. His business starts from 7:30 am to 9:00 pm every working day, but his chips business goes up to midnight. His brother is a constructor also and is the one who inspired him.

This is his first loan request from Tujijenge Tanzania, which he will use to renovate his chips place with tiles on the ground floor and buy a stock of soft drinks. He dreams that one day he will be able to improve his life and businesses as well. Since he is self employed and his work needs more energy, he decided to crop these businesses so that in his old age he will have more savings and something to stand for.

Laurent will share this loan with his loan group "Mt Udzungwa" which totals three members. The members of the group will hold each other accountable for paying back the loan.

Additional Information

About Tujijenge Tanzania

This 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.

Tags

About Tanzania

  • $1,700
    Average annual income
  • 31
    View loans »
    Tanzania Loans Fundraising
  • $14,365,675
    Funds lent in using Kiva
  • 1,635.5
    Tanzania Shillings (TZS) = $1 USD

Success!! The loan was 100% repaid

A portion of Mt Udzungwa Group's $775 loan helped a member to renovate his chips place with tiles on the ground floor and buy a stock of soft drinks.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 27, 2014
Listed
Apr 1, 2014
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014