Microfinance business in Tanzania: 2025 Update

Microfinance refers to a financial service that provides small loans, savings accounts, and other financial products to individuals or small businesses that lack access to traditional banking services. It aims to empower low-income individuals, particularly in developing countries, by enabling them to start or expand small enterprises, improve their livelihoods, and achieve financial independence. Microfinance institutions often focus on supporting marginalized groups, such as women and rural communities, to promote economic development and reduce poverty.