Finca Tanzania becomes Incofin's third partner in Tanzania
Finca Tanzania becomes Incofin's third partner in Tanzania
After earlier investments in Pride Tanzania (debt) and Akiba (equity), Incofin IM makes its third investment in a Tanzanian MFI. Finca Tanzania received a loan of 1.7 billion Tanzanian Shillings (1 million USD) from Incofin cvso. It is a strong and well-established institution with nearly 72,000 clients and is following a solid growth path.
Since 1998, Finca Tanzania established a network of 22 branches located in urban areas. The branches are also used as hubs to reach out to surrounding more remote rural areas. The institution plans to launch smaller outlets and mobile points of sale in 2012 to better serve the rural population.
With the support and experience of the Finca International network, Finca Tanzania implemented efficient and well-designed loan methodologies and products including village banking, small group loans and individual loans. Incofin has a long-standing and fruitful partnership with Finca affiliates all over the world. The investment in Finca Tanzania is Incofin's second partnership with Finca in Africa after Finca Congo.