Dear friends I am so much glad to let you share with me one thing and that is, the issue of Tanzanian small entrepreneurs Youth and landless peasants access to Credit (loan) facilities from financial Institutions, this has been so much difficult due to traditional banking/ lending system which postulate no collateral (in this case, land) means no credit the same has been adopted by some Micro-finance Institutions and Companies operating in Tanzania. My underlying premise is that, in order to emerge from poverty and make themselves free from the clutches of usurers and middlemen, landless peasants and Youth need access to credit, without which they cannot be expected to launch their own enterprises, however small these may be. On my experience (in practice) I came out with this observation, that lending to the mentioned above whose sometimes are named as the poor is not an impossible proposition; on the contrary, it gives Tanzanian small entrepreneurs Youth and landless peasants the opportunity to purchase their own tools, equipment, or other necessary means of production and embark on income-generating ventures which will allow them escape from the vicious cycle of low income, low savings, low investment, low income. In other words, the bankers and other micro finance services providers confidence have to rest upon the will and capacity of the borrowers to succeed in their undertakings and not collateral. I value your suggestion if any!
Posted on: Thu, 06 Mar 2014 13:53:33 +0000
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