DAR-ES-SALAAM
Microfinance Institutions play an effective role in poverty alleviation, social empowerment, and economic development within the broader context of financial inclusion.
The assertion was made by Bank of Tanzania Deputy Governor, Dr. Bernard Kibesse in an event where 18 winners of the 3rd Citi Microentrepreneurship Awards (CMA) in Tanzania collectively won USD 37,500.
He declared that the awards funded by Citi Foundation and managed by the Association of Microfinance Institutions in Tanzania (TAMFI) provided an appropriate platform to celebrate extraordinary entrepreneurs in Tanzania.
Dr. Kibesse noted that microfinance industry played a larger role in deepening the financial markets, expanding access to affordable and appropriate financial services and products to MSMEs and low-income households.
Citibank Tanzania CEO Mr. Joseph Carasso said that the awards were in recognition of the fact that micro-entrepreneurship is a major contributor to economic growth in the country through job creation in service and industry economic sectors.
“Through the Micro-entrepreneurs, we are reassured that micro-entrepreneurship is a viable option for every entrepreneurial Tanzanian. Citi is therefore proud to contribute to the development of micro-entrepreneurship and ultimately better livelihoods for the community where we live and work,” he said.
Tamfi Vice Chairman, Mr. Altemius Millinga who is also the managing director of Yetu Microfinance Bank PLC, appreciated Bank of Tanzania for its recognition of entrepreneurs and the partnership between the Citibank and TAMFI, as being a catalyst of encouraging entrepreneurship development.
Mr. Millinga promised that Tamfi will continue to work closely with BOT to ensure policy and business environment for microfinance institutions favors perpetuation of entrepreneurship development for the general good of mother Tanzania.
The first prize- Citi Microentrepreneur of The Year Award 2018/9 went to a palm oil processor, Mr. Farouq Hassan Khalifa. He took home USD 7500. The second prize went to Mrs. Saida Zera Msuya, an upcoming industrialist in the textile business. She won USD 6000. Mr. Mathias Stephano was third and took home USD 4000.
About 250 business owners who started off as micro-entrepreneurs from across Tanzania participated in the awards program that aims at recognizing the extraordinary contributions that individual micro-entrepreneurs have made to the economic stability of their families as well as their communities.
List of the winners/profiles of main winners
https://docs.google.com/document/d/1Xda2R18anmx1JJHjOCZExWevFanJTBZO1Pf9RIBT8MI/edit?usp=sharing
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About the Citi Foundation:
The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. The foundation invests in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant cities. The Citi Foundation’s “More than Philanthropy” approach leverages the enormous expertise of Citi and its people to fulfill their mission and drive thought leadership and innovation. For more information, visit www.citifoundation.com.
About Citi:
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
About Tamfi
Tanzania Association of Micro finance Institutions (TAMFI) is a not-for-profit umbrella organization for micro finance institutions in Tanzania. The association seeks to develop the capability of microfinance institutions and the microfinance sector in general through advocacy, lobbying, research and development, responsible microfinance, capacity building, and information gathering and dissemination.
Should you want to learn more about the program or would like to get involved, please
Contact: TAMFI- Winnie Terry +255 764 668 331