By Business Insider Reporter
SELF Microfinance (SELF MF) is considering the introduction of a special loan product to make it easier for university graduates to access financing and venture into self-employment.
The plan was revealed in Dar es Salaam today, August 15, by SELF MF Chief Executive Officer, Santiel Yona, in response to a proposal from Raia Mwema editor Joseph Kulangwa during a media briefing.
Ms. Yona (pictured below) said such a product could be a game changer for graduates, enabling them to start income-generating activities and reduce reliance on formal employment.
Kulangwa noted that the initiative would particularly benefit graduates from the Sokoine University of Agriculture (SUA), many of whom face difficulties securing jobs after completing their studies.
He added that financing graduates to start agricultural ventures would not only utilise their skills but also help boost Tanzania’s agricultural sector and create jobs for others.
“For instance, if graduates from SUA are supported to start agriculture-related businesses, they will be able to apply their knowledge, improve farming practices, and create employment,” Kulangwa said.
Responding, Ms. Yona described the idea as “brilliant” and confirmed SELF MF would explore the possibility of developing the product.
Capital expansion plans
Ms. Yona also announced that from next year, SELF MF will begin seeking funding from external institutions to boost its capital base. Currently, the institution is capitalised solely by the government.
“We are planning to expand our portfolio, and we cannot do that without increasing our capital base. The government has allowed us to seek capital from other financial institutions,” she said.
Clean cooking initiative
As part of efforts to support President Samia Suluhu Hassan’s clean cooking energy initiative, SELF MF has begun offering loans for modern cooking stoves. So far, TSh 100 million has been disbursed – primarily to women in Dar es Salaam – through both cash and stove-equipment loans. The campaign aims to accelerate the shift away from traditional cooking fuels.
Strong growth record
SELF MF, a government-owned institution under the Ministry of Finance, has recorded impressive growth in recent years.
Between 2021 and June 2025, it disbursed TSh 196.9 billion in loans to 183,381 beneficiaries, with women making up 53% of recipients.
“Our mission has always been to empower low-income communities through affordable financial services, and the results speak for themselves,” Ms. Yona said.
Established in July 2015 from the former Small Entrepreneurs Loan Facility Project, SELF MF provides wholesale loans to microfinance institutions (MFIs) and direct lending to small businesses, farmers, pastoralists, and public servants. In the past four years, it has extended loans to 549 MFIs, created over 183,000 jobs, and trained more than 10,000 people in financial literacy.
“We are not just lending money; we are building capacity, supporting livelihoods, and fostering sustainable economic growth,” Ms. Yona added.
