KAZI is pleased to announce that this local group of entrepreneurs has so far repaid their loan on time! This group of women from Ifakara contacted KAZI with their idea of pooling resources to create a mushroom co-op. Their superb business model detailed that the women could cut costs and increase revenue for everyone by working together instead of individually. KAZI granted them an interest-free and banking-fee-free loan for 1,500,000 TSH (680 CHF) to help them launch their business.
After nine months, the group has generated enough revenue to pay back half of their loan on time! The women visited a fellow mushroom grower in the Morogoro region of Tanzania who gave them expert advice for the success of their project. Using this knowledge and capital provided by KAZI, they were able to start their joint production and sell mushrooms locally.
KAZI was impressed by the well-planned business strategy the women presented, which showed a response to local demand and the means for these entrepreneurs to increase their own income. KAZI wishes them continued success for the rest of the repayment period and beyond!