Pride Tanzania

Incorporation:

PRIDE Tanzania was incorporated on 5^th May 1993 under Cap. 212 as a company limited by guarantee.

Source of Funding:

Main source is from NORAD under a Bilateral Agreement between the Government of Tanzania and the Royal Government of Norway from 1993 to 2001. Swedish Government joined as a donor through Sida late 2000.

Governance

• Bank of Tanzania is the implementing agency of the programme on behalf of the government.
• The role of the Implementing Agency as per the bilateral agreement is to coordinate funding for the program.
• Board of Directors responsible for strategic policy decisions and oversees the overall program implementation.

Target Clients:

Poor but economically active individuals owning and running businesses

worth less than US $ 700

Loan Menu

PRIDE’s Loan menu has eight loan cycles with small loan amounts

ranging from Tshs.50, 000 to 10,000,000. Clients have to graduate from

lower to higher loan cycles. Interest rate is charged are based on the loan terms

range between 25 to 100 weeks depending on the loan size.

Programme Development

1.Pilot phase (1993 –1995)

Pilot operations involved three branches located in Arusha, Tanga and Dar es Salaam. The aim of the phase was to:

• introduce and test the possibility to replicate the PRIDE model in Tanzania,
• allow time for capacity building and establish the network growth pattern

2.Expansion phase (1995 – 2000)

Programme expansion started soon after the successful pilot phase. Three stages were involved:

• Network expansion (1995 – 1998)
• Consolidation of operations (following programme review by a consultant) 1998 – 1999 (Focus on efficiency and productivity improvements)
• Movement towards operational sustainability (1999 – 2001)
• Building Capacity for Commercialisation and Transformation (2002 – 2004)

Funding

Funding by Donor and Use

Various independent impact assessment studies involving sampled borrowers carried out since 1997 indicate the following changes with respect to the businesses and living standards of a good number of borrowers:

• Registered business growth both in terms of increased volume of existing businesses and/or addition of new businesses
• Enhanced income
• More employment generated but mostly involving close relatives
• Ability to buy domestic assets and carry out improvements in their homes
• Improved family living standards – afford decent meals and medical treatment, pay for school fees and school uniforms for children and afford better homes contrary to the situation before accessing loans.
• More confidence on the part of women through enhanced income and hence purchasing power.
• More women are becoming equal partners in the homes and participate fully in the planning of family welfare.

HEAD OFFICE CONTACTS
PRIDE Tanzania Ltd,
AICC Complex,
Ngorongoro Wing,
4th Floor, Room 420,
P.O. Box 13900,
Arusha – Tanzania
Email:[email protected]