Dear TAMFI members and stakeholders, it is a great honour and privilege for me to write this new year greetings as we head towards the end of the year 2024 and look forward for 2025.
At this time of the year, it is time to reflect on what we have done right and rejoice but also look on areas with shortcomings and take them as a motivation to do better in the coming year of 2025.
The year 2024 was marked with a number of events, especially on serious engagement with the regulator and policy makers. The engagements helped us to come together and fight together and build our case together as an industry. In essence, the engagements showed the significance of having a strong association. It is of no surprise that increasingly TAMFI has registered more members during 2024.
Just to mention a few milestones that we worked together in 2024 as TAMFI members:
We were able to engage successfully on discussion and negotiation with the regulator regarding the circular on guidelines to MFIs on fees and charges.
We also had an opportunity to hold a well-attended virtual meeting to present our comments on the review of the Microfinance (Non-deposit taking Microfinance Service Providers) Regulations 2024.
Furthermore, we conducted an advocacy meeting aimed at building a positive public image against a negative image that was growing against us, resulting in Tier 2 lenders being called Kausha damu. The focus of our advocacy meeting was to tell the public on our story that is hardly heard; our positive contribution to the economy. It is our responsibility to tell the positive impact of our service to the community that is highly demanded for if we dont tell the story no one will do it for us.
During the advocacy meeting, we agreed that the telling of our positive side story of our contribution to the economy will be an ongoing endeavor.
Further, we agreed that the telling of the positive story should go in line with TAMFI members adhering to best lending practices as outlined in the regulations and periodically provided by the regulator.
As we look forward to 2025, the Code of Conduct, that we have worked on it together, provides us an opportunity to good practice lending that is fundamental for a sustainable way of building a good public image and business continuity.
Likewise, I am glad to inform you that we have started a process, with the Bank of Tanzania, of appointing our Association as a Self-Regulatory Institution (SRI). That means we will be given more powers of self-regulating ourselves by agreeing amongst ourselves on principles and guidelines to run the industry diligently.
To wind up, let me take this moment to give my sincere appreciation to you members, and industry stakeholders. I am proud that together, we have made significant milestones in 2024.
For 2025, I am looking forward to a much stronger TAMFI, member owned industry association. We are the ones who make TAMFI, and together, we can make a stronger TAMFI. Together, we can voice our propositions as an association.
I wish you the very best for the year 2025.
Devotha Minzi
Board Chair
TAMFI.