Mwajuma, who is in her mid 30s, is married and has three boys; two are in school and the other is still young. Mwajuma is employed but also earns a living by running three businesses: a beauty salon and cosmetics sales since 2006 and a genge-duka (grocery stall) selling fruits, vegetables and charcoal since 1996. She employs workers to run her two businesses but sells cosmetics herself to specific customers. Her businesses operate from 6 a.m. to 9 p.m. daily and are able to give her a good profit.
This will be Mwajuma's first loan from Tujijenge Tanzania and she wants to use it to increase her stock of cosmetics to resell. Mwajuma's dream is to one day be able to expand all her businesses. She will share this loan with her loan group "Pamba" which consists of 10 members who will hold each other accountable for repaying the loan.
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.