FINCA Results

Measuring Our Impact

Social Performance Management

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Tanzania

Tanzania is the sixth largest country in Africa, with a population of 51.8 million. According to the World Bank, Tanzania has a high potential for growth, yet its per capita income is among the world's lowest. Most of the workforce is engaged in agriculture, while unemployment is common, especially among women and youth.

Founded in 1998, FINCA Tanzania recently became the first institution to be granted a micro-finance banking license, allowing it to mobilize savings. It serves people throughout the country, offering a diverse range of credit, savings and other services. Late last year, FINCA launched Halo Yako, in partnership with Halotel, a mobile network provider. The service allows customers to open a free account and keep savings on their mobile phone. Customers can set savings targets—like paying for their children’s education— and earn free mobile airtime as they achieve their goals.

Explore Tanzania Data ↓

Financial Inclusion

Tanzania:
Reaching the Financially Excluded

77% Adult population financially excluded
2,135 24% Female borrowers % #
651,331 Total FINCA clients
6,587 75% Borrowers in rural areas % #
8,783 Total FINCA borrowers

Tanzania has one of the most conducive environments in Africa for non-traditional banking, As a result, account penetration has increased recently among the general population. Despite this progress, however, nearly 80 percent of adults still lack access to basic banking services.

FINCA Tanzania has succeeded in extending its reach to the most excluded populations, especially women and rural people. Three-quarters of FINCA’s clients live in rural areas, where poverty is widespread. FINCA is accelerating the deployment of mobile and agency banking as a means to further extend the reach of its services, while making them cheaper and more convenient for customers. FINCA Tanzania aims to serve small businesses of all types, with a special goal of helping entrepreneurs who are branching out into non-traditional sectors, like services and manufacturing.

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Living Standards

Tanzania:
Quality of Life

4,831 55% Client homes without water % #
4,392 50% Client homes without electricity % #
7,026 80% Client homes without access to Internet % #
3,215 37% Clients who don’t own their home % #
6,802 77% Head of household with primary education or less The educational levels in Tanzania are much lower than in the other African countries. % #

Like rural people everywhere, our borrowers in Tanzania struggle to attain basic living standards, including education and basic services. Three-fourths of household heads have less than a secondary education—well above the regional average—which greatly impairs their ability to earn a decent income. Over half of our borrowers live in homes with no running water or electricity. These burdens fall especially hard on children, who are exposed to disease and who can only study by the light of the sun.

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Income & Employment

Tanzania:
Income & Employment

$3,174 18% Average annual profit 18% of the total sales % #
2.4 Average # of employees per client enterprise
21,131 People employed in FINCA-funded enterprises
8,193 39% Employees hired due to FINCA loan % #
14,510 69% Wages paid above the poverty line % #
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Despite their harsh living conditions, FINCA’s customers in Tanzania earn an average profit of $3,174 per year to sustain their families, the highest in the region. Our borrowers employ 2.41 people per enterprise. Two-thirds of these employees are earning wages that are above the national poverty line. Almost 40 percent of the total employment in FINCA-funded enterprises is a direct result of FINCA’s loans.

View All Income & Employment Data

Women’s Empowerment

Tanzania:
Empowering Women

2,135 24% Female borrowers % #
734 8% Clients with female-headed household % #
1,672 19% Households with female as main earner Women are often the main breadwinner -- even if they are not the head-of-household. % #
4,743 54.0% Businesses run by women Tanzania is one of the few countries where women's business ownership is equal to their share of the overall client base. This means that they are using FINCA loans to run their own independent businesses. % #
9,925 47% Women employed by enterprises Avg. #
12,256 58% Jobs created by women Altogether, women are employing almost 79,235 workers in their FINCA-funded enterprises. % #

Over half of FINCA's borrowers are women, the vast majority of whom are the main source of income in their families. These women fare well in terms of owning their own businesses—better, in fact, than most other countries, where women are sometimes used as a source of credit for male-run businesses. Women in Tanzania are also slightly ahead of men in terms of overall job creation, because they work in sectors like crop farming, which make more intensive use of labor.

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Clients’ Goals

Tanzania:
Attaining Business and Personal Goals

Goals Set By FINCA Borrowers
Goals Met By FINCA Borrowers
852 10% Start a business % #
5,937 68% Expand a business % #
176 2% Invest in education % #
659 8% Improve their home % #
97 1% Buy an asset % #
1,010 12% Pay down debts Tanzania is the only country where paying down debts outranks home improvement. % #
768 90% Start a business % #
5,658 95% Expand a business About 95% of borrowers expect that FINCA’s loans will enable them expand their businesses. % #
155 88% Invest in education Those who have non-business goals, such as education or to acquire assets, express slightly less certainty that they will be able to accomplish this aspiration. % #
596 91% Improve their home % #
86 89% Buy an asset % #
956 95% Pay down debts % #

FINCA's customers in Tanzania are mostly concerned with growing their businesses and managing their finances. In fact, more of FINCA's customers in Tanzania have business-related goals than anywhere else in the network, followed by Pakistan. Tanzania is also the only country where paying debts and unexpected expenses outranks home improvement as the next priority. Fortunately, the majority of customers in all categories report that they are achieving these goals with FINCA's help.

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Business Activities and Profit

Tanzania:
Poverty, Economic Sectors, Jobs and Profits

FINCA Loan Sectors

5,788 66% Trade % #
1,818 21% Services % #
422 5% Manufacturing % #
413 5% Crops % #
343 4% Livestock % #

Profit and Profit/Sales Ratio by Sector

$3,560 15% Trade Profit/sales ratio Avg. profit
2,571 25% Services Profit/sales ratio Avg. profit
$2,505 33% Manufacturing Profit/sales ratio Avg. profit
$2,175 14% Crops Profit/sales ratio Avg. profit
$1,864 18% Livestock Profit/sales ratio Avg. profit

Jobs by Sector Due to FINCA Loan

5,147 63% Trade % #
1986 24% Services % #
321 4% Manufacturing % #
400 5% Crops % #
338 4% Livestock % #

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