Mrs. Mariamu M. runs a shop in Temeke Mji Mpya, a suburb of Dar es Salaam, 500km from her home town Mmakonde, which is on the border of Tanzania and Mozambique. She sells a mixed bag of cosmetics, cleaning products and soft drinks and requires a loan of TSH 600,000 to purchase additional stock, such as soap, shampoo, bleach and unnamable brands of soft drink (we don’t want to provide free advertising to the multinationals!).
SELFINA is engaged in economic empowerment of women in Tanzania through leasing and leaseback facility as a practical way to achieve economic and social emancipation of women.
SELFINA has taken a lead role as a pioneer of micro-credit in Tanzania through Micro Leasing. Customs and traditions in Tanzania normally make it difficult for women to own land and assets, thus termed not-creditworthy by financial institutions as they lack tangible collateral assets. This leads to poor financial support hence poor access to basic needs and services for women with low incomes.
SELFINA buys and leases equipment to women. Where a client needs working capital SELFINA buys equipments from the said client extending a loan to her and then leases back the same equipment – a process called "sale and leaseback" arrangement.