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International Journal of Scientific and Engineering Research
ISSN Online 2229-5518
ISSN Print: 2229-5518 4    
Website: http://www.ijser.org
scirp IJSER >> Volume 3,Issue 4,April 2012
Enabling Poor People to Overcome Poverty and Innovative Access to Finance for Small and Medium Enterprises in the United Republic of Tanzania by Rotating Savings and Credit Association Method[
Full Text(PDF, )  PP.260-265  
Author(s)
A. Ranjith, R.Thandaiah Prabu, P. Albert Shelton
KEYWORDS
— Roscas, upatu, bid, poverty, loan, MDG and household
ABSTRACT
The United Republic of Tanzania is an emerging economy with high growth potential. With per capita gross domestic product (GDP) of US$500, the economy has shown strong and consistent growth in the last two decades the Tanzanian economy went through a period of successful transition in which economic liberalization and institutional reform led to a recovery of GDP growth to more than 7% per year since 2000. However, during the same period, the country has been unable to achieve significant reductions in poverty. Approximately 90 per cent of the United Republic of Tanzania's poor people lives in rural areas. The incidence of poverty varies greatly across the country but is highest among rural families living in arid and semi-arid regions. The main aim of this paper is to enabling poor rural people to overcome poverty and increase their savings by introducing The Rotating Savings and Credit Association (Rosca) method. It plays an important role as a financial intermediary in many parts of developing countries. It flourishes in both urban and rural settings, especially where formal financial institutions seem to fail to meet the needs of a large fraction of the population
References
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