Income boost for struggling Tanzanians
Catherine had been tying, dyeing and making batiks for years. She knew all the methods, the best types of inks and dyes, the best materials and the most popular patterns.
However, Catherine only earned enough to feed her children one meal a day. No matter how hard she worked, she could not save or borrow enough to expand her business. This was 3 years ago.
Food on the table
Today, Catherine has increased her weekly revenue 10 times. She can now afford to feed her family at least 2 meals a day and even start a new business selling secondhand clothing.
Catherine joined a savings and loan programme supported by Plan Tanzania and implemented by the Youth Self Employment Foundation, a local microfinance institution, which provided her with pre-loan, technical and business training.
She also took out loans to purchase more material in order to increase her business output and learned to save and repay her loans as quickly as possible.
Catherine told us that, at the age of 55, she now feels economically independent and capable of supporting her extended family.
Reaching out
Tanzania is one of many countries where access to credit, savings and loan services - especially for people living in poverty - is extremely limited.
The savings and loan programme in Tanzania has so far successfully reached out to over 2,500 clients (67% women), providing them with new technical skills and enhancing their entrepreneurial skills and business acumen in order to help them improve their household income and security.
Loans given to programme participants have helped to improve household income from an average of 6,000 TZS (US$4.50) per week to more than 20,000 TZS (US$15) per week.
Support the project!
Please make a donation via the Plan USA website to help us provide families and communities with the small loans and savings facilities they need to ensure their economic security.
