As a microfinance institution PRIDE Tanzania provides these services:
-This product is based on a modified Grameen model.
-To be eligible, a client must join a
self-selected solidarity group guarantee of 5 members called an Enterprise Group
groups combined into one large group of 50 called a market enterprise group (MEC), for ease
administration and enhancement of group mechanism.
- Compulsory weekly savings as part of loan
insurance scheme and refundable upon exit.
- Involvement of the client in the administration of
the program through elected leadership for weekly meetings.
-Half yearly bonus payout on
Fahari Loan Product - Solidarity groups of three to five
self selected from among MEC loan clients.
- Near collateral items pledged as additional
guarantee to reinforce security supported by formal legal agreement.
- Half yearly bonus payout
on compulsory savings
Ajira Loan Product - The product is targeting employees
in the government and other reputable organizations.
- Employers must guarantee their
Wholesale Lending- PRIDE Tanzania has entered into a strategic alliance
with IFAD sponsored Rural Financial Services Programme based in Mbeya to provide access to
financial services for the rural areas. The modality for collaboration with RFSP involves the
provision of loans to rural based microfinance institutions such as SACCOS and SACAS, which in turn
lend the funds to their members.
- The product is targeting registered SACCOS
members guarantee the loan.
- Loan sizes range from $8,500 - $42,500 USD.
-Flexible loan term between 6 - 12 months.