Coco Beach clean up

Coco Beach clean up

The concentration of plastic pollution in Coco beach has been on the rise, and the accumulation of marine debris has been even greater. Plastic pollution does more than choke or entangles sea life. Scientists have found evidence that ocean plastic is linked with the disease of coral reefs thus affecting sea life. It is because of this reason that Fanikiwa staff participated in Coco beach clean-up as part of our CSR this year.

Our team participated in a number of activities i.e beach clean-up, education-awareness on ocean conservation, donation of garbage bins as well as having a chance to interact with one another and the local community where we serve.

Fanikiwa is committed to conserving the environment where we work in and we will work together to find the solutions to fix broken global systems that lead to declines in nature while protecting those places that wildlife, sea life, and people can’t live without.

Posted in: csr

Kilimanjaro marathon

Kilimanjaro marathon

A few of Fanikiwa’s staff participated in the Kilimajaro marathon early this year. The marathon is an annual event held to raise funds for environmental conservation. The proceeds from the event go to the Kilimanjaro project, a tree-planting initiative aiming to bring back more rainfall to the Kilimanjaro region and help diminish the effects of climate change. Through our participation, we hope to raise awareness of the importance of tree planting and ecosystem restoration.

Posted in: csr

Matosa Tree Planting

Matosa Tree Planting

Fanikiwa Microfinance participated in a tree planting exercise at Matosa Secondary School in Goba, Dar es Salaam. This was a CSR initiative to ensure that the environment is not only protected but also creating a better and conducive learning environment in schools.

The exercise was led by the managing director Shauri Selenda and also joined by environmentalists from both government and non-governmental organizations. A total of 196 fruits trees were planted. These trees will not only provide shade for the students but also fruits. This initiative also seeks to teach young children the importance of planting trees and engage them while still young. As a company, Fanikiwa will continue to be sensitive the community where we serve on the need to plant trees to conserve the environment.

Posted in: csr

Tank donation

Tank Donation

Fanikiwa Microfinance Limited donated a water tank to provide storage of potable water for Maendeleo primary school in Yombo ward, Temeke District, Dar es Salaam as one of its corporate social responsibility initiatives. This water tank will help to improve the availability of basic toilets water, clean water, and good hygiene standards within the school. During the covid-19 pandemic, there is a need to ensure high hygiene and handwashing especially within schools that have a huge population. Fanikiwa Microfinance Limited team presented the tanks to the administration during the handing over ceremony held at the school.

As a company, Fanikiwa Microfinance Limited takes cognizance of its responsibility to the communities with which they work. Fanikiwa’s CSR ethos is hinged on its obligation to act as a responsible corporate company. It upholds environmental stewardship as one of our core values and recognizes that its activities as a company have an impact on the communities they interact with. They are therefore committed to not only creating a positive impact but also utilizing available resources to impact lives positively.

Posted in: csr

Top 5 tips to get the best loan for your small business

Small and medium enterprises (SMEs) form the backbone of Tanzania’s economy. 95% of all businesses in the country are SMEs. They make up of more than 35% of the Gross Domestic Product. For this reason alone, they deserve financial support.
There is no doubt that your small or medium sized business needs a boost to go to the next level. The question is not whether to borrow credit, but where and how. Learn how to find the best loan product that best solves your problems.

    1. 1.Do your research

There are hundreds of loan facilities in Tanzania. But not all of them actually deliver what they promise. Will you accept the first offer that comes your way or will you research for the most reasonable business loan?
Talk to past customers who have actually used the loan product that you desire. What was their experience? Did they like the turnaround time, customer support and repayment options? Have these questions answered to make a wise decision.

    1. 2.Review the qualifications

Most lenders to in Tanzania require you to be in an operating business. These can vary from small to medium and large. Examples are restaurants, grocery shops, hardwares, schools, motorbike transporters, taxis, clothes shops and retail dukas.
You should be aged between 18-65 years and have operated the business for more than 6 months or at times, 1 year. Most loan facilities in Tanzania need you to have some form of collateral to qualify for a small business loan.

    1. 3.Put your house in order

As you look forward to applying for a business loan in Tanzania, streamline the operations of your business first. This not only makes your business qualify for the loan but also attracts the highest possible amount.
For example, let there be a clear organizational structure, clear type of business as well as number and role of employees. Prepare financial documents such as bank statements, records of expenditures and income streams. This makes your application procedure faster.

    1. 4.Talk to a seasoned credit or loans officer

Now that your SME is ready to obtain credit, it is time to do the walking. Call your nearest Fanikiwa office and talk to a loans officer. Know what documents you need to bring to our office to apply for the loan.
Include copies of your business registration, licensing, financials and where necessary, signatures of guarantors. Your loan could hit your bank account in just a few days after application. ‘Congratulations! Your loan has been approved.’

    1. 5.Fanikiwa!

Once you receive the loan, ensure you spend the money wisely. It makes a lot of sense to have a list of priorities or a budget for your business expansion. Remember to pay your loan in good time to preserve your good credit score.
Having understood how easy it is to obtain financing, what are you waiting for? Go ahead and Fanikiwa in your biashara. Call us now or visit us today and get your loan tomorrow.