Mambo (Greetings!) from Tanzania! This is 32-year-old Mosi M. from Mwanza. She is single with three children, between the ages of three and 15 years old. Mosi M. has been running a used clothes business since 2006. Her business is selling second-hand clothes from America and Europe, which are then washed, ironed and sold in bulk by wholesalers in Tanzania to retailers who then re-wash and re-iron them for sale on the streets and in the surrounding towns and villages. These clothes are becoming increasingly popular, especially among the younger generation because of their low cost and the general appeal of anything modern. She works at the business for eight hours per day, six days per week and is assisted by one employee. Mosi M. currently earns about 300 USD a month from her business. She is requesting a loan of 500 USD in order to buy more used clothes for resale. In the future, she plans to open another business. Mosi thanks you for her support!
About the field partner:
SELFINA has taken a leading 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 provisioning of a leasing and payback 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 is allows clients to use the equipment as collateral for future loans with SELFINA, thus enabling them to borrow larger sums in the future.