PRIDE Tanzania

Promotion of Rural Initiative and Development Enterprises Limited (PRIDE Tanzania) is a micro finance institution involved in the provision of credit to small and micro entrepreneurs in Tanzania.

MEC Loan

This product is based on modified Grameen model.
To be eligible, a client must join a self-selected solidarity group guarantee of 5 members called an Enterprise Group
10 Solidarity groups combined into one large group of 50 called a market enterprise group (MEC), for ease administration and enhancement of group mechanism.
Peer pressure and a three tier loan guarantee system to ensure loan repayment
Weekly meeting lasting for a maximum of 1 hour
Compulsory weekly savings as part of loan insurance scheme and refundable upon exit
Access to a loan is subject to minimum loan insurance balance amount to 25% of loan amount except for the first loan cycle.
Loan cycle ranges from Tshs 100,000 to 1.0M
Involvement of the client in the administration of the program through elected leadership.
Half yearly bonus payout on compulsory savings

Fahari Loan Product
Solidarity group of three to five self selecting from among MEC loan clients
Monthly loan repayment
Near collateral items pledged as additional guarantee to reinforce security supported by formal legal agreement
A client may select a variable loan term from 6 to 24 months
Half yearly bonus payout on compulsory savings
Meetings lasts only 20 minutes
Loan cycles ranges from Tshs 2M to 15M

Ajira Loan Product
The product is targeting employees in the government and other reputable organizations.
Employers guarantee their employees.
Less than a week processing time
Loan sizes range from Tshs 100,000 to TShs. 15Million or 15 times gross salary
No requirement for meetings at PRIDE offices

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 would lend the funds to their members.
The product is targeting registered SACCOS
Board members guarantee the loan.
Less than a week processing time
Loan sizes range from Tshs 10 million –50 million
Competitive interest rate
Flexible loan term between 6 –12 months

Contact

PRIDE Tanzania Ltd,
AICC Complex,
Ngorongoro Wing,
4th Floor, Room 420,
P.O. Box 13900,
Arusha - Tanzania
Email:
ptzinfo@pride-tz.org OR ptzadmin@pride-tz.org