Tanzania

Facts about Tanzania

Tanzania’s national economy has outperformed many of its neighbors through the recession. However, the benefits have failed to reach the 28 percent of Tanzanians living in poverty. Most of the workforce is rural and engaged in agriculture. Creating new opportunities is vital to reducing unemployment, which affects women and youth disproportionately.

Founded in 1998, FINCA Tanzania recently became the first micro-finance institution in the country to be granted a micro-finance banking license, allowing it to mobilize savings from both clients and the general public. With 25 branches, it serves more than 80,000 urban and rural clients throughout the country with small group, individual and agricultural loans, savings products for adults and children, insurance, payroll and money transfers services. FINCA Tanzania supports small businesses of all sizes and have enabled Tanzanians to branch out into manufacturing and services to foster a more diverse economy.