Tujijenge Tanzania from Tanzania


Tujijenge Tanzania is the first Micro finance Institution (MFI) set up by Tujijenge Afrika. Its head office is located in Makumbusho, Kijitonyama area, Dar es Salaam.


Biography

COMPANY PROFILE

TUJIJENGE TANZANIA LTD

 

Tujijenge Tanzania is the first Micro finance Institution (MFI) set up by Tujijenge Afrika. Its head office is located in Makumbusho, Kijitonyama area, Dar es Salaam. In its third year of operation, Tujijenge Tanzania will extend its services to areas outside of Dar es Salaam including the rural.

 

Tujijenge Tanzania started operations in July 2006. In its first five years of operation, the main focus will be to build up an institution based on micro finance best practices. It is planned that the institution will be financially sustainable in its third year of operations.

 

Tujijenge Tanzania is a company limited by shares, and will get its seed capital from the sale of its shares. With this capital, Tujijenge Tanzania will be in a position to apply to become a micro finance company regulated by the Bank of Tanzania. In this case Tujijenge will be able to take deposits from its customers. Nevertheless, Tujijenge Tanzania is borrowing loan capital from commercial banks and other wholesale lending institutions in order to meet cash demand which is a result of robust growth in the portfolio.

 

Tujijenge Tanzania’s mission is to improve the lives of families in Tanzania through the provision of micro finance while its vision is to reach out and actively be serving 16,000 customers by the end of 2010.

 

Tujijenge Tanzania’s focus is to provide holistic financial services to its customers over and above the traditional credit generally provided by micro finance institutions. Along with offering credit, other financial services that the company will provide will include life and medical insurance and savings services.  The company is also exploring on possibilities of including solar energy products and mobile banking.

 

Tujijenge Tanzania provides financial services to its customers so that the following can be achieved:

  • Increase of capital injected to small and micro businesses, leading to improved income for the family and subsequent improved quality of lives
  • Provision of insurance services to enable smoothen shocks of death, fire, accidents and sickness which normally drain capital from the micro entrepreneurs source of income
  • Provision of safe savings services/facilities, through which they can save for future development