Yetu Microfinance Bank Plc. (YETU) is a microfinance bank in Tanzania. It is the first microfinance institution to be listed in the Dar es Salaam Stock Exchange.[1] Yetu is a Swahili word which means "Ours".
Overview
The bank offers credit products, such as solidarity group loans for clients who are organized into groups, whose members serve as informal banks and cross guarantee each other's loans.
Mavuno loans products to members of solidarity group loans who can afford and have reached a loan ceiling of TSh 3 million, and would like to borrow on an individual capacity; small and medium enterprises loan products, including exports and imports, cars, business/shop improvements, business capitals, and processing and manufacturing of loans.
Other loans include SRI agricultural loans, mixed farming loans to smallholder farmers for financing various crops, instant loans, as well as education loans. Its deposit products comprise compulsory (collateral) savings, and voluntary deposits, it's a component company of the Tanzania All Share Index
History
Yetu Microfinance Bank PLC is a public limited company that was incorporated under the Companies Act 2002 on December 23, 2013, to take over the business of Youth Self Employment Foundation (YOSEFO).