SELF Microfinance Fund (SELF MF) originated from a Government Project known as the Small Entrepreneurs Loan Facility (SELF), which was established in 1999.
The SELF Project was among the Government’s poverty reduction programs, jointly funded by the Government of Tanzania and the African Development Bank (AfDB).
The Project aimed to enhance the contribution of small and medium enterprises (SMEs) to economic growth and poverty reduction, as well as to strengthen the microfinance sector in Tanzania through the following components:
A wholesale lending fund for eligible Microfinance Institutions (MFIs);
Capacity building for partner MFIs through training and institutional support;
Promotion and facilitation of the establishment of new grassroots MFIs.
The Project performed remarkably well, and it was deemed beneficial to transform it into a more sustainable institution to continue fulfilling its important mission.
Following the Cabinet meeting held on 13th June 2014, the SELF II Project was approved to be transformed into a Company Limited by Guarantee, ensuring proper legal status, business structure, transfer of assets, and ownership.
The SELF Microfinance Fund was officially established on 14th September 2014 under the Companies Act of 2002 as a Company Limited by Guarantee, with the Government of the United Republic of Tanzania—through the Ministry of Finance and Planning under the Treasury Registrar—as the principal guarantor.
In November 2018, the Government of Tanzania decided to merge SELF Microfinance Fund (SELF MF) with UTT Microfinance (UTT MFI). The merger aimed to combine human resources, financial capital, and business opportunities that existed between the two institutions, while reducing dependence on Government support.
This merger resulted in the creation of a new company with enhanced synergy, economies of scale, and greater operational efficiency and profitability.
