Fighting Poverty in Tanzania

Facts about Tanzania

Tanzania’s national economy has outperformed many of its neighbors and the country enjoys overall peace compared with some other countries in the region. Yet, the benefits of its peaceful economy have failed to reach the 28 percent living in poverty in the country.

Tanzania, along with much of sub-Saharan Africa, is on the verge of a crisis. By 2035, the International Monetary Fund estimates the number of Africans joining the working age population will exceed the rest of the world combined. To fill this surge, 18 million new jobs will have to be created each year for the next 20 years across sub-Saharan Africa. In the meantime, Tanzanians rely on the informal sector for a chance to earn a living. In addition, access to basic services, like energy, water and sanitation, education, health care and agriculture, is often inadequate.

When poor people have access to financial services and life-enhancing products, they can earn more, build their assets, create jobs and cushion themselves against external shocks. Since 1998, FINCA has been helping thousands of Tanzanians improve their lives. FINCA offers financial services, such as loans, savings and microinsurance throughout the country, and supports access to basic services through FINCA Ventures.