NMI provides USD 2 million loan to Pride Tanzania
NMI Fund III KS has provided a senior loan of USD 2 million to Pride Microfinance Ltd. PRIDE is one of the larger microfinance institutions in Tanzania with a network of 71 branches that covers almost all districts. By end 2015, PRIDE served about 150,000 clients, of which one third is located in rural areas. The average outstanding loan is about USD 240.
The institution applied end 2015 for a microbank license in order to be able to offer more services and products to its clientele and widen its funding base.