The role of informal microfinance institutions in saving

Cumulative
Number of Number of
Year Value of
SACCOs Members
Shares TZS
Cumulative
Savings and
Deposits .TZS
Average Interest rate
Cumulative
(%)Charged on Loan
Loan Issued
Advanced to Members
TZS
and Non Members
1989 0 0 0 0 0 0
Source: Ministry of Agriculture and Cooperatives.
Table 2: Performance of SACCOs in Tanzania: 1990-2005.
Year
Number
of
SACCOs
Cumulative
Number of
Value of Shares
Members
TZS
Cumulative
Savings and
Deposits. TZS
Cumulative Loan
Issued TZS
Average
Interest rate
(%)Charged
on Loan
Advanced to
Members and
Non Members
1990 89 15,225 1,345,628,975 1,032,256,895 30,258,667 14
1991 156 19,884 1,526,987,543 1,423,624,538 47,861,110 18
1992 198 23,017 1,745,638,952 1,625,897,743 108,566,284 11
1993 289 45,889 1,925,630,147 1,986,598,946 112,389,627 9
1994 306 68,993 2,105,300,475 2,895,563,217 134,225,864 7
1995 306 73,218 2,563,472,981 3,000,456,898 1,586,428,745 19
1996 306 76,113 2,896,335,504 3,114,225,869 1,978,532,675 21
1997 514 79,645 3,118,468,774 3,568,965,447 2,063,458,970 21
1998 769 98,762 3,416,287,150 5,114,210,000 2,189,676,458 21
1999 825 125,880 5,569,331,623 8,336,221,471 13,210,988,463 11
2000 803 133,134 5,618,112,584 8,425,553,970 11,524,329,388 13
2001 927 137,305 6,610,362,757 8,599,154,791 12,362,207,570 10
2002 974 189,497 7,856,143,091 8,790,644,251 18,226,975,968 24
2003 982 245,633 8,956,231,470 9,995,476,215 28,966,328,974 25
2004 1,104 781,162 12,589,632,045 19,045,600,289 36,922,418,964 27
2005 1,553 863,348 13,697,662,335 25,425,630,789 46,895,237,810 27
29