Hamida is a mother of two school-going sons and is in her late twenties. She is a divorcée, and for three years she has been taking care of her family by managing a fish business. She travels a distance from home to the fish market (from 5:00 a.m. to 10:00 a.m.) to buy stock, then returns home to fry the fish and resell it. She has a big table where she arranges her fish in bundles depend on their size (big and small corresponding with prices). Hamida sells her fish up to midnight daily and is able to make a good profit each month.
This is her first loan request through Tujijenge Tanzania. Hamida is applying for a loan to be apportioned among Njia Ya Ng'ombe, a group of six members. The group members will hold each other accountable for paying back the loan. Hamida will use this loan to repair her table where she displays her fried fish and to restock her supply of fish for her business. Her ambitions are to greatly improve her fish business and to build a nice house.
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.
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.