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  • Access to Capital
  • Access to Capital

Access to Capital

In Tanzania, the proportion of women with access to financial services is low compared to that of men due to several social-economical factors.This, in spite of the big role women entrepreneurs contribute to the national economy.

This financing gap has attracted the attention of development actors; they are advocating for a fair distribution of productive resources between men and women.

Some statistics

  •  51.2% of women access formal financial services compared to 63% of men
  • 17.1% of women hold accounts in financial institutions against 21.1% of men 
  • 27% of adult women own Mobile Phones as opposed to 38% of men 
  • 44% of the women use Mobile Money against 54% of men .

What can help to narrow the  gap ?

  • Ever growing Digital Financial Services; and the
  • Development of Women Specific Financial Products and Services. 
angle-left Vision Fund Micro Finance Bank Tanzania

Vision Fund Micro Finance Bank Tanzania

 

ACCESS TO CAPITAL

 

TITLE

Vision Fund Tanzania Microfinance BANK 

 

SUMMARY

Vision Fund Tanzania Microfinance is a World Vision property. It has about 650,000 clients in Tanzania.

CONTENT

 

ABOUT VFT BANK

 

 

 

Vision Fund Tanzania is owned by Vision Fund International, the World Vision microfinance subsidiary which incorporates all of the World Vision microfinance activities. Vision Fund International serves over 650,000 active loan clients. Vision Fund International is differentiated by its integrated approach in working with World Vision’s community-based development efforts to address rural poverty.
Vision Fund Tanzania (VFT) is currently the fourth largest and the most rapidly growing MFI in Tanzania

 

FINANCIAL PRODUCTS

1. Premium Loan

Features:

  • Interest of 2% flat p.m.
  • 2.5% of loan amount processing fees
  • Compulsory saving 5% of approved loan amount
  • 6-24 Months loan term
  • Monthly payment
  • Top up is allowed from 3rd cycle, clear repayment history and with 50% payment of existing loan

Benefits:

  • Clients that have grown their businesses out of poverty are supported to maximize according to their capacity to pay

 

2.     MKOMBOZI LOAN

Features:

  • Loan Paid at Maturity
  • 3-12 Months loan term
  • Interest 5% flat per month
  • Compulsory savings 10% of approved loan amount
  • 5% of the approved loan amount as loan processing fee

Benefits:

  • Group guarantee
  • Loan can help customer in farm care and child well being
  • Flexible loan amount will help the farmer to meet his/her farming needs.
  • Both repayments and interest are paid during harvesting period
  • Interest payment waiver for prepayment.

3.     KILIMO LOAN

Features:

  • Loan paid at Maturity and interest rate is paid on monthly basis
  • Credit life revolving fund 1% of loan amount
  • 3-12 Months loan term
  • 10% Cash Collateral
  • Monthly amortization of interest

Benefits:

  • Clients get loan depend on their capacity
  • Negotiated security or guarantee
  • Balloon is paid at harvest
  • Interest waiver for prepayment

Contact Details
Main Office

Vision Fund Tanzania Microfinance Bank Ltd.
Headquarter, Afrika Mashariki Road 
Arusha International Conference Center (AICC), Fifth Floor , Serengeti Wing
P.O Box 1546, Arusha, Tanzania 
Phone Number: +255 0800 258 723
Office Hours: Monday to Friday 8:00 AM TO 5:00 PM 

Website:  www.vftz.co.tz 
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50MAWSP origin

The African Development Bank partners with EAC, COMESA & ECOWAS Regional economic blocks to implement the 50 Million African Women Speak Networking Platform Project.The platform is intended to empower millions of women in Africa to start, grow, and scale up businesses by providing a one-stop shop for their specific information needs. Click on the image for more information