The bank has signed agreements with HAND IN HAND Eastern Africa (Tanzania) – a worldwide organization that operates in northern Tanzania to build the financial management and entrepreneurial skills of people living in poverty. HAND IN HAND global reach includes Afghanistan, India, Kenya, Rwanda, Southern Africa, Zibwabwe and Tanzania.
Accordingly to the current reports, In Tanzania alone, 18,440 members trained, 10,643 businesses started, 15,034 jobs created and 53,215 lives improved by HAND IN HAND initiatives. The HAND IN HAND entrepreneurs are farmers, shop owners, tailors and more that are expecting to open savings accounts and receice loans from FINCA.
FINCA and HAND IN HAND has agreed that there is a scope for FINCA to offer financial services such as opening savings accounts and loans to groups and group members of HAND IN HAND.
Again, the bank expects to benefit, as HAND IN HAND shall facilitate identification, mobilize and sensitize their groups to open accounts to carry their savings group work and receive loans from FINCA.
Meanwhile, HAND IN HAND expectations from this relationship includes financial literacy training, bank products and services for both savings, loans and other services which may be relevant for nurturing these groups.
FINCA CEO Mr. Edward Talawa and HAND IN HAND EASTERN AFRICA – Tanzania Country Manager Mr. Stephen Wambua signed this agreement at FINCA Microfinance Bank head offices in Dar es Salaam Tanzania.