BRAC Tanzania’s microfinance programme started in 2006, to provide access to financial services for people living in poverty. BRAC spans in Tanzania through 151 branches across 26 regions of the country. We offer two main products – individual microloans for women delivered through groups, and enterprise loans targeting both male and female small-scale entrepreneurs. We also provide credit to youth and small-holder farmers through our agricultural finance programmes. Through our small enterprise programme (SEP), we aim to financially empower entrepreneurs who do not have access to formal financial services.
Our small enterprise programme began in 2008, to cater to small and medium sized entrepreneurs. Through SEP, we are able to support the women beneficiaries who graduate from group-based lending modal when their businesses grow. Additionally, we are able to support individual entrepreneurs who have no access to funds from traditional financial institutions.
We provide microloans to women who are not served by other microfinance institutions, giving them the opportunity to operate businesses in their local communities. We also provide social education and financial literacy through weekly group meetings. Participants are advised on the best ways to manage their businesses in order to pay back loans efficiently.
Small enterprise loans
Small enterprise loans financially empower young entrepreneurs who do not have access to formal financial services. We offer small individual loans to business people who are less vulnerable than the microfinance group members. Most clients are now successfully running their businesses and generating employment opportunities for others. Higher economic benefits are indicated through single loans, placing less credit burden on other community members. Members who have successfully repaid their loans are able to expand their businesses by taking further loans. We also provide financial support and capacity building to help expand our clients’ businesses.