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Facts about Tanzania
Tanzania’s national economy has outperformed many of its neighbors through the recession. Yet the benefits have failed to reach the more than one-third of citizens 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 urban and rural clients throughout the country. Its three main loan products—Village banking, small group and individual loans—support small businesses of all sizes and have enabled Tanzanians to branch out into manufacturing and services to foster a more diverse economy.
1 Information is updated on a quarterly basis.
2 Population lacking account at formal financial institution.