Lack of access and take-up of financial services within rural communities can be due to weak infrastructure which limits banks, and even microfinance institutions (MFIs), from justifying the time and cost to provide in providing savings and loans to farmers. As a result, financial access in these areas can be as low as 10%. To […]
Standing at 1.2 billion, young people account for 1 in 6 of the global population and are growing rapidly in number. However, despite the size of this age group, youth face significant economic and social barriers to inclusion within education, employment, health services, civic participation and the financial sector. Financial inclusions limit young people from […]
This study researches and evaluates the state of financial inclusion and finance for the growth of rural youth in Tanzania, and concludes that their inclusion could significantly benefit rural communities and the country’s economy as a whole towards an inclusive financial system.
Transformation is key to bridge the financial system to majority of Tanzanians by contributing to better wellbeing of individuals and businesses. Over the coming 5 years, FSDT’s overall aim is to contribute to the achievement of real-life impact on the majority of Tanzanians through “inclusive finance”, which delivers real value to the economy and people […]
Over the past decade, remarkable progress has been made in improving financial inclusion in terms of the number of adults using formal financial services, the adoption and usage of digital platforms and massive investments by the private sector. However, despite such positive development, the insurance sector is lagging with take-up at just 15% of the […]
Bank accounts could encourage savings groups to save more, says a Tanzanian survey. Financial service providers (FSPs) should make offering group savings accounts their first priority, if they want to build a sustainable, commercial relationship with this rapidly expanding market.
The Digital Field Automation (DFA) is an automated account opening and loan application program which has increased access to financial services for individuals and small business owners living in rural areas. The DFA was developed by FINCA Microfinance Bank Tanzania Limited in partnership with the Financial Sector Deepening Trust.
Mfumo Jumuishi – A model borne from the need to overcome constraints to financial & economic progress for smallholder farmers. Life of a smallholder farmer can be financially desperate and lonely as the smallholder farmer fends for themselves to make economic gains in a world of agriculture value chains and commodities that is increasingly cut-throat […]
Since 2004, when the Financial Sector Deepening Trust (FSDT) was formed, great strides have been made towards achieving our goal that all Tanzanians derive value from regular use of financial services which are delivered with dignity and fairness.
Financial inclusion, as defined by the World Bank, is when “individuals and businesses have access to useful and affordable financial products and services that meet their needs – transactions, payments, savings, credit and insurance – delivered in a responsible and sustainable way” (World Bank, 2017).