|
BUMACO CONTINOUS ENGANGEMENTS: |
 |
|
RUFIP- Rural Financial Development Programme. RUFIP is an intensive rural financial intervention programme for innovative, initiative in Rural Finance Intermediation. Currently we have embarked on development of Rural Saccos in Kilimanjaro Region, Tanzania. Bumaco received a kick start to promote 4 societies from Argidius Foundation in 2004. With success registered in the four societies, CORDAID (Netherlands) has provided Bumaco with funds to extend the number of societies to 20. By 2010, we expect to have 20,000 active members effectively participating in well run self supporting savings and credit societies. |
|
|
EFTA- Equity for Tanzania Ltd was incorporated under company Act Cap 212 in May 2003 Reg. No. 46099; to enable Tanzanians to acquire machinery and work tools for small scale enterprises. The company target groups needing equipment worth between U$ 3000 and 30,000. These amounts are above what is normally provided by microfinance institutions and below the attractions of commercial banks. EFTA is jointly sponsored by Equity for Africa (EFA) Ltd (UK) and BUMACO Ltd. DFID under its Finance Deepening Challenge Fund has through Enterplan (UK) provided some administrative support. EFTA puts a premium as opposed to interest on funds advanced to Entrepreneurs for equipment. Repayment is based on revenue flows from operations, although a time limit is set to be 3years. With unforeseen difficulties, the same amount is paid over an extended period. Early payment is rewarded by bonuses resulting in much less premium on capital. This arrangement makes EFTA a unique Capital Management Company.
BUMACO LTD INSURANCE BROKERS- is an offshoot of BUMACO providing quality insurance information and insurance product choices with certainty. The brokerage operates branches in Moshi, Dar-es-Salaam, Arusha and Mwanza.
|
|
|
|