Financiera FINCA

FINCA Microfinance Bank (Tanzania) started its operations in 1998 in Mwanza. It currently operates in 26 branches in 17 regions in the country. FINCA Microfinance Bank now serves more than 70,000 active clients countrywide who are served by over 700 staff. In January 2013, FINCA Microfinance Bank began offering savings products to the public. This followed a historical event where FINCA became the first MFI to be granted a license by the Bank of Tanzania, allowing the institution to accept deposits from the public and to carry out banking services as a microfinance institution.  The issuance of a license by the Central Bank was an important step toward financial inclusion in the country as it helped to bring tens of thousands of Tanzanians, mainly from rural areas, into the formal banking sector.