Financing Instruments and Financing Providers

For business growth.

• The entrepreneur shall be 18 years of age and above.
• The Business operated by the entrepreneur shall be Sharia-compliant.
• The entrepreneur shall belong to formed groups vetted by the Bank
• The entrepreneur shall receive loan approval from members of the group.
• Close relatives such as spouses, children, parents, siblings, etc. must not be members of the same G5.
• The entrepreneur shall possess a valid voter’s registration card, national identity card, or passport.
• The entrepreneur shall contribute on a weekly basis to the Saving Insurance Fund (SIF) a certain amount to be set by the Management.
• The entrepreneur shall be required to deposit a certain percentage of the financing amount set by this policy as security.

• Copy of National Identity card

Facility Application

Business and Collateral Assessment

Group Guarantor Ship

Onward lending to the member

• VSLAs/VICOBA

• Group registration certificate
• Group constitution
• Resolutions signed by 50% +1
• Application letter

Financing Agricultural inputs for farmers (based on cashew nut farming)

3 Years of AMCOS operations

• Executed Board Resolution

1. Application letter
2. Certificate of Registration
3. Bank Statement for 3 years
4. Registrar's endorsement letter
5. Upcoming season harvest/revenue Projection
6. IDs of AMCOS leaders
7. Site visit confirmation/Call back whichever is applicable
8. Beneficiary details (depending on loan purpose)
9. Branch Manager recommendation via email detailing the below.

Working capital or Asset Financing

Registered Sole proprietor/Company/ Enterprises

FOR INDIVIDUAL

1. Loan application letter
2. Filled loan application form
3. Business license
4. Certificate of registration
5. Extract from registral
6. Copy of TIN
7. Audited financials if any
8. Cashflow projection if any
9. Other source of income if any
10. Bank statement if any
11. Title deed copy

FOR COMPANY

1. Loan application letter
2. Board resolution for limited company
3. Memorandum and articles of association
4. Certificate of registration/incorporation
5. Extract from registral
6. Business license
7. TIN certificate (copy)
8. Annual returns filled with BRELA
9. Brief details of Directors and Senior managers
10. Business plan
11. Cashflows projection
12. Audited financials
13. Bank statement
14. Copy of title deed/leseni ya makazi
15. SIDO/VETA recommended letter
16. NSSF registration certificate copy

Pay as you sell in an innovative service provided by Mtaji to support suppliers who struggle with customers that face cash shortages to buy new stock. Pay as you sell helps to solve liquidity problems for your customers by allowing them to obtain goods in advance upon a cash deposit being made and then to repay in installments.

Trading and manufacturing industries

• Copy of business license

LIST OF KYC FOR LIMITED COMPANIES

1. TIN & VAT certificates
2. Recent Tax clearance
3. Certificate of incorporation
4. Identification documents of directors and shareholders
5. Memorandum and articles of association/partnership deed
6. Board borrowing resolution
7. Certified copy of the latest annual returns
8. Bank statement of the past 12 months
9. Cash flow projections of the next 12 months
10. Management accounts from January to date
11. Audited financials for the past 3 years
12. List of contracts on hand if available

LIST OF KYCS FOR SOLE TRADERS/PROPRIETORS

1. TIN & VAT certificates
2. Certificate of registration & extract from Brela
3. Recent Tax clearance (TRA report)
4. Identification documents for owner/partners
5. Bank statement of the past 12 months/Mobile transaction statements
6. Residence verification letter from local government
7. Board resolution (if it is a partnership

Financing offered to businesses that are already in operation to support their business needs (working Capital).

Financing offered to businesses that are already in operation to support their business needs such as business expansion and asset acquisition.

• Copy of National Identity card

• Open a current account with BANK OF AFRICA-TANZANIA                                                                                        

• Turnover of not less than 4 times of requested amount
• Demonstrate ability to repay
• Have a valid trading license and statutory registration documents
• Collateral – legal mortgage (preferably), cash cover, corporate guarantee (for very structured companies)
• Already in the same business for at least 2 years
• Any other additional documents as requested by the bank.

Working capital

Availability of collateral

• Copy of National Identity card

Request letter with purpose

Working capital

Business should be at least 12 months

Business license

Working capital and Investment

1. Business owned and operating by Tanzanian Residence.2. Client is at least 18-73 years old at the time of loan disbursement.3, Business operated for at least 6 months.4. Business must have regular monthly cash flow5. Business and collaterals within branch operating zone.6. Ensure client comply with environmental climate-related risk and social management policy and governance policy (ESG). Adding eligibility to specific products i./Agri loans; client to have experience of at least 2 growing seasons in a particular plot. For SMEs, the client must have business records and /or transaction receipts for the past 6 months.

• Copy of National Identity card

1. ID of the client and cosigner if married, guarantor, collateral provider if needed in some case, marriage proof, business documentation (business license, Tin, tax clearance), rent contract if rented home and business, proof of premise ownership for home and business if owned by client, sales records, original collateral documents in case are securing loan. For company business to have extra documents apart from those mentioned like memorandum of understanding, Article of Association, audited financial report, Brela registration document, board of resolution, business records and /or bank transactions. Others for specific businesses like schools, pharmacy; registration documents from the authority responsible for guiding that industry, and permit of operation. For vehicle insurance payment (Tira document) and Latra document.

To support Capital Expenditure

• Minimum Business Vintage: 3yrs
• Maximum Annual Sales Turnover: TZS 27Billion
• Business should be able to provide tangible security
• Management / Business owner with 3 Years experience in the Sector or Field.
• Maximum DSR: 65%

• Copy of business license

• Client application Form or request letter
• Tax Clearance
• Business Registration Documents (KYC)
• Board Resolution for companies.
• Current Bank statement for 6 to 12 months.
• Audited financials for facilities above TZS 1.35Billion
• Debtors Aging.
• Title deed for the property securing the facility
• Client / Buyer contract if available