CF MICROCREDIT
About Us
CF Microcredit Ltd ﴾CML﴿ is a private Limited liability company incorporated in United Republic of Tanzania with certificate of registration No. 163695960 issued in February 2023 and TIN number 163-695-960. In 2023 the company was licensed by the Bank of Tanzania ‐BOT under License No. MSP2‐G85, to conduct micro finance business in Mainland Tanzania. The company was founded to boost financial inclusion by providing sustainable financial solution to Individuals, groups and majority Small and Medium sized Enterprises (SME) in Tanzania who underserved by traditional banks.
The Microfinance offices are located at Mandela Road, Plot no 540 Block F. Mkulima house, 5th Floor, Dar es salaam Tanzania. The office is strategically located and accessible for our clients to reach our services easily.
Thanks to a clear vision, a commitment to living its values and above all, its outstanding people, the reputation
associated with the CF Microcredit name is that of integrity, innovation, quality and service excellence.
Why Choose Us?
Empowering Financial Solutions
We provide sustainable financial products tailored for individuals and SMEs, promoting economic growth and environmental sustainability
Tanzania: A Nation on the Rise
Exploring the Country’s Growth, Economy, and Financial Landscape
Overview
The United Republic of Tanzania is located in Eastern Africa. It is bordered by Kenya and Uganda to the North, Rwanda, Burundi and the Democratic Republic of Congo to the West and Zambia, Malawi and Mozambique to the South. The country’s eastern border lies in the Indian Ocean which has a coastline of 1,424 km.
Tanzania is one of Africa's fastest growing economies, with diverse natural resources and a youthful population. CF Microcredit Ltd geared to empower women and youth who are essential to the country's continued development but are among the most marginalized citizens. Youth under age 15 make up 45 percent of the country's population of 60 million. Increasing access to economic and educational opportunities for young people will go a long way in helping ensure prosperity for all.
Economic Outlook
Tanzania Real GDP grew 5.3% in 2023, up from 4.7% in 2022, driven by agriculture, construction, and manufacturing on the supply side and private investments on the demand side. Tight monetary policy, together with moderation in food and energy prices, helped reduce inflation from 4.3% in 2022 to 3.8% in 2023. The Tanzanian shilling depreciated by 8% in 2023, reflecting shortages of foreign exchange
The Tanzanian banking sector recorded strong growth in 2022 (and 2023), with profits before tax reaching TZS 1.4 trillion, a 38% increase from TZS 1 trillion in 2021. Net profit reached TZS 875,027 billion compared to TZS 676,863 million. As of March 2024, 47 licensed banks are operating in Tanzania: 34 commercial banks, 4 community banks, 4 microfinance banks, 2 development banks, 1 Non-Bank Financial Institution, 1 House Financing Company, and 1 Mortgage Refinancing Company. Altogether, in 2022 they had 981 branches and 75,238 bank agents. Additionally, the banking sector is supplemented by various non-banking financial institutions, including social security schemes, microfinance service providers, mortgage finance institutions, and financial leasing companies. Their total assets increased by 17.3% to TZS 46,159.5 billion in 2022 from TZS 39,346.3 billion in 2021. This was mainly attributed to the increase in deposits, borrowings, and retained earnings. Deposits increased by 14.3% to TZS 32,584.7 billion in 2022 from TZS 28,499.1 billion in 2021. The increase was due to public confidence in the banking sector, favorable economic activities, and deposit mobilization strategies instituted by banks and financial institutions.
Empowering Services
Loan Products
We offer tailored financial solutions to support individuals and businesses in achieving their goals