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9.3 Micro-finance institutions (MFIs): Support for Growth-oriented Women Entrepreneurs in Tanzania, 2005

 
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9.3 Micro-finance institutions (MFIs): Support for Growth-oriented Women Entrepreneurs in Tanzania, 2005
   

Micro-finance operators in Tanzania function within the framework of the Government’s National Micro Finance Policy of 2000. The objectives of this policy are to provide the basis for the evolution of an efficient and effective micro-finance system to serve the low segment of society and contribute to economic growth and poverty reduction (as described in MIT, 2002). The policy establishes a framework within which micro-finance operators will develop, lays out the principles to guide operations of the system, defines roles and responsibilities of actors, and provides guidelines for coordinating mechanisms. The Central Bank was given the mandate to coordinate implementation of the policy. It is interesting to note that the Micro Finance Policy includes “gender equity” as a best practice.

Access to financial services should be available to both men and women. In order to achieve gender equity in the delivery of services, it may be necessary to make special efforts to incorporate features that make the services accessible to all. (National Micro Finance Policy, 2000, pp. 11-13).

There are a number of micro-finance operators in the country (the major ones are highlighted in Table 6) and, although a number of key informants stated the view that micro-financing is plentiful, most MFIs operate in urban areas with relatively welldeveloped infrastructure, thereby denying access to rural MSEs and those in backward regions (UDEC, 2002). Key informants reported that micro-credit operators had recently formed the Tanzania Association of Micro-Finance Institutions (TAMFI), with support from the Swedish International Development Agency (SIDA). At this point, however, there is no collective data on micro-finance clients, no evidence of systemic performance evaluations of the micro-finance industry, and a great need for sharing of good practices in managing micro loan funds.

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International Labour Organization
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As the world's only tripartite multilateral agency, the ILO is dedicated to bringing decent work and livelihoods, job-related security and better living standards to the people of both poor and rich countries. It helps to attain those goals by promoting rights at work, encouraging opportunities for decent employment, enhancing social protection and strengthening dialogue on work-related issues. The ILO is the international meeting place for the world of work. We are the experts on work and employment and particularly on the critical role that these issues play in bringing about economic development and progress. At the heart of our mission is helping countries build the institutions that are the bulwarks of democracy and to help them become accountable to the people. The ILO formulates international labour standards in the form of Conventions and Recommendations setting minimum standards of basic labour rights: freedom of association, the right to organize, collective bargaining, abolition of forced labour, equality of opportunity and treatment and other standards addressing conditions across the entire spectrum of work-related issues.
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