Savings schemes give communities a good return on their money and the ability to invest in their businesses

Like many people in emerging markets, in rural Tanzania people have no access to banking services. In local partnership with CODERT, Tigo established 70 savings and loans schemes, serving over 2,000 people. In the first year, over 1 billion shillings (almost $750,000) was saved, earning interest at nearly 150%, and 80% of the scheme members were women. The access to loans also allowed the development of a number of local businesses. These schemes are self-sustaining and we intend to set up a further 100 schemes this year.