MO Finance Corporation Ltd is a non-deposit taking microfinance institution incorporated under the Companies Act of 2002 and licensed by the Bank of Tanzania under the Microfinance Act 2018 (Cap. 407) and its regulations of 2019. The company operates its microfinance business throughout the United Republic of Tanzania, with its head office located on the 9th Floor, CRDB Building, Azikiwe Street, Dar-es-Salaam, Tanzania. MO Finance Corporation Ltd is dedicated to financing the low-income population to uplift their livelihoods.
MO Finance Corporation Ltd aims to be a leading microfinance institution in Tanzania, delivering hire purchase and asset financing loan products to individual Tanzanians, small and medium enterprises within the country and in neighboring regions. The institution's mission is to uplift the living standards of low- and medium-income Tanzanians who have the potential to become good business partners of financial institutions.
The company is driven by core values of accountability, integrity, teamwork spirit, confidentiality, and responsibility. These values underpin MO Finance Corporation Ltd's commitment to providing financial services that support the government's efforts in poverty alleviation and job creation. By fostering an environment that enables self-employed residents of Tanzania to seize business opportunities, the company aims to maximize returns for its shareholders while ensuring sustainable and profitable lending operations.
MO Finance Corporation Ltd offers a variety of loan products, including individual asset financing loans, Bodaboda group asset financing loans, solidarity group loans, SME loans, premium insurance loans, salary loans for employees, and staff loans. These products are designed to meet the diverse needs of their clients, ensuring financial inclusivity and support for the informal sector.
By adhering to good microfinance practices and ethical standards, MO Finance Corporation Ltd strives to maintain a high-quality portfolio through effective credit risk management. The institution's ongoing expansion into the small and micro-enterprise market niche demonstrates its commitment to sustainability and profitability, aligning with established norms and regulations in the microfinance industry.
