
Tanzania is a highly populous East African country with a rapidly growing economy. The country’s average GDP growth of an estimated six percent has indicated significant economic growth and opportunity in the past decade, but credit access in Tanzania remains a challenge for many of the nation’s 56 million people.
Credit Access in Tanzania
In fact, Tanzania scored 13th out of 15 countries in Sub Saharan Africa for credit accessibility. Credit access in Tanzania is vital for the financial success of the country, which has both an annually growing population in the workforce and a high rate of poverty.
As an emerging market, many enterprises in Tanzania have struggled with restricted credit access, and 70 percent of all Tanzanian Small and Medium Enterprises, or SMEs, have no formal credit access at all. In fact, only 15 percent of the population has formal access to credit through banks. This lack of credit does not mean that Tanzanians are not borrowing money, as over half of those in the labor market have taken loans at some point.
Small and Medium Enterprises Loans
Rather than access credit formally, however, approximately 63 percent of Tanzanians use friends and family to access loans. Conversely, formal bank loans only accounted for three percent of all bank deposits in Tanzania.
Credit access in Tanzania is particularly important for Small and Medium Enterprises. According to a 2017 study conducted by the University of Dodoma in the Tanzanian capital, banks and microfinance corporations have enough liquidity to offer Small and Medium Enterprises loans.
Owners of SMEs, however, perceive these formal loans to be high risk due to the high-interest rates, strict loan conditions and numerous collaterals placed on these loans. This study determined that the Tanzanian government should intervene in the nation’s market “to regulate the conditions and requirements for loans” financing SMEs. This could be done by establishing credit bureaus in large cities to increase credit access in Tanzania for SMEs.
Tanzania’s New Credit Plan
Due to the difficulty for many Tanzanians to formally obtain a loan, as well as the mistrust of the population in formal bank loans, the federal government has proposed a new solution for credit access in Tanzania. As of April 2018, the Tanzanian government has enacted a new credit plan to improve private lending and reduce the frequency of bad loans.
This regulation of interest rates in banks, however, is not intended to be a direct rate cap, and should not hinder banking sector growth. This plan had been presented before in 2011, but was rejected by the government for fears of restricting the free market. While this move may be beneficial for SMEs in Tanzania, some banks with capital ratio issues may be hurt by the policy, further negatively affecting the economy.
High-Interest, Low Loans
Limited credit access in Tanzania, much like other developing countries, constricts the country’s economy and scope of financial operations. While Tanzanians often seek loans from sources other than banks, SMEs and other aspects of the country’s private sector have suffered the negative consequences of high-interest rates and low loan offers from banks.
Although capital ratio issue in some banks complicates the possible credit solution, the government of Tanzania seeks to resolve these problems through its new credit plan in order to continue to augment the nation’s economic growth.
– Matthew Cline
Photo: Flickr
Top 10 Facts About Living Conditions in Ethiopia
Ethiopia, located in the Horn of Africa, is home to the second largest population in Africa. Ethiopia’s economy grows by 10 percent each year, one of the highest growth rates in its region. Despite this remarkable number, it remains one of the poorest nations in the world. These top 10 facts about living conditions in Ethiopia are characterized by the economic, social and political reality of a developing nation.
Top 10 Facts About Living Conditions in Ethiopia
The Road to Improved Living Conditions
The government of Ethiopia has put in place its Growth and Transformation Plan, which has put forward a goal for development and economic projects that aim to make Ethiopia a middle-income country by 2025.
This is an ambitious vision that sets out to radically change huge sectors such as health, education and finance, which is also where the nation faces its biggest challenges.
– Bilen Kassie
Photo: Flickr
Top 10 Facts About Living Conditions in Ecuador
Ecuador has long welcomed backpackers and tourists from around the world who wish to indulge in its rich culture and diverse nature. For this reason, one will encounter many resources for westerners considering resettling in the country.
The following 10 facts about living conditions in Ecuador focus on its natives rather than on expats who often settle in Ecuador carrying wealth and resources with them.
Top 10 Facts About Living Conditions in Ecuador
These top 10 facts about living conditions in Ecuador evoke hope for the country’s potential for progress and a sense of urgent need for change. Among developing countries, Ecuador is doing relatively well. It is experiencing steady growth and its poverty rate has dramatically declined. However, it has a lot of growing to do before it reaches its full potential and becomes sufficiently developed.
– Julia Bloechl
Photo: Flickr
Top 10 Facts About Hunger in Sri Lanka
Compared to other states in its region, Sri Lanka is doing well economically as a middle-income country. It is lagging, however, in certain aspects that include hunger and chronic malnutrition. The following are the top 10 facts about hunger in Sri Lanka.
Top 10 Facts About Hunger in Sri Lanka
Although Sri Lanka is improving in many ways, the country has a long way to come in regards to food insecurity. These top 10 facts about hunger in Sri Lanka provide clear insight into the humanitarian efforts that need to be made to mitigate this issue.
– Amelia Merchant
Photo: Flickr
Hidden Crisis: 10 Facts About Hunger in Australia
Australia, by definition, is a developed nation. Despite it’s commonly perceived status as a “first world nation,” though, Australia faces a sizeable food crisis that has only gained momentum over the past decade. Here are the top 10 facts about hunger in Australia.
Top 10 Facts About Hunger in Australia
Complex and Multifaceted
Hunger in Australia operates at multiple levels and impacts groups differently across a vast range of the socio-political spectrum. Due to this pervasiveness and complexity, the treatment of the hunger crisis in this developed nation will require a broad, multilateral approach.
– Ian Greenwood
Photo: Flickr
Understanding SMEs and Credit Access in Tanzania
Tanzania is a highly populous East African country with a rapidly growing economy. The country’s average GDP growth of an estimated six percent has indicated significant economic growth and opportunity in the past decade, but credit access in Tanzania remains a challenge for many of the nation’s 56 million people.
Credit Access in Tanzania
In fact, Tanzania scored 13th out of 15 countries in Sub Saharan Africa for credit accessibility. Credit access in Tanzania is vital for the financial success of the country, which has both an annually growing population in the workforce and a high rate of poverty.
As an emerging market, many enterprises in Tanzania have struggled with restricted credit access, and 70 percent of all Tanzanian Small and Medium Enterprises, or SMEs, have no formal credit access at all. In fact, only 15 percent of the population has formal access to credit through banks. This lack of credit does not mean that Tanzanians are not borrowing money, as over half of those in the labor market have taken loans at some point.
Small and Medium Enterprises Loans
Rather than access credit formally, however, approximately 63 percent of Tanzanians use friends and family to access loans. Conversely, formal bank loans only accounted for three percent of all bank deposits in Tanzania.
Credit access in Tanzania is particularly important for Small and Medium Enterprises. According to a 2017 study conducted by the University of Dodoma in the Tanzanian capital, banks and microfinance corporations have enough liquidity to offer Small and Medium Enterprises loans.
Owners of SMEs, however, perceive these formal loans to be high risk due to the high-interest rates, strict loan conditions and numerous collaterals placed on these loans. This study determined that the Tanzanian government should intervene in the nation’s market “to regulate the conditions and requirements for loans” financing SMEs. This could be done by establishing credit bureaus in large cities to increase credit access in Tanzania for SMEs.
Tanzania’s New Credit Plan
Due to the difficulty for many Tanzanians to formally obtain a loan, as well as the mistrust of the population in formal bank loans, the federal government has proposed a new solution for credit access in Tanzania. As of April 2018, the Tanzanian government has enacted a new credit plan to improve private lending and reduce the frequency of bad loans.
This regulation of interest rates in banks, however, is not intended to be a direct rate cap, and should not hinder banking sector growth. This plan had been presented before in 2011, but was rejected by the government for fears of restricting the free market. While this move may be beneficial for SMEs in Tanzania, some banks with capital ratio issues may be hurt by the policy, further negatively affecting the economy.
High-Interest, Low Loans
Limited credit access in Tanzania, much like other developing countries, constricts the country’s economy and scope of financial operations. While Tanzanians often seek loans from sources other than banks, SMEs and other aspects of the country’s private sector have suffered the negative consequences of high-interest rates and low loan offers from banks.
Although capital ratio issue in some banks complicates the possible credit solution, the government of Tanzania seeks to resolve these problems through its new credit plan in order to continue to augment the nation’s economic growth.
– Matthew Cline
Photo: Flickr
10 YSEALI Grants Impacting Youth in Southeast Asia
Established in 1967, the Association of Southeast Asian Nations (ASEAN) aims to accelerate progress and peace in the region and increase international cooperation.
What is YSEALI?
As part of the U.S. Mission to ASEAN, the U.S. established the Young Southeast Asian Leaders Initiative (YSEALI) in 2013 to help strengthen leadership development in Southeast Asia by targeting 18 to 35-year-olds. According to the initiative, “Approximately 65 percent of people in the ASEAN region are under the age of 35.”
YSEALI runs a Seeds for the Future program that provides small grants to youth in Southeast Asia through annual competitions. The program awards funding to projects within four issue areas: sustainable development, economic growth, civic engagement and education. These grants create better futures for youth in Southeast Asia.
Top 10 2018 YSEALI Grants
YSEALI’s Other Projects and Impacts
Outside of its Seeds for the Future program, YSEALI also sponsors professional and academic fellowships to the U.S. and hosts regional workshops for youth in Southeast Asia. Even after young leaders move on from YSEALI, many of them continue to make positive changes in their communities.
YSEALI has also inspired other young leaders in Brunei to establish Youth Against Slavery (YASBrunei) — Brunei’s first civil society to focus on people trafficking. Both through its small grants and its example, YSEALI is making huge impacts on youth in Southeast Asia.
– Kathryn Quelle
Photo: Flickr
History of Ebola in Mali
History of Ebola in Mali began in October 2014 when Aminata Gueye Tamboura tried to protect her (non-biological) granddaughters from the Ebola outbreak in Guinea. They traveled back to her home in Mali by taxis, buses and public transportation, while one of the girls, Fanta Condé, had symptoms of fever and nosebleeds. The two-year-old was brought to the Fousseyni Daou Hospital and was diagnosed with Ebola on October 23. One day later, she passed away.
The Spread of Ebola in Mali
Condé’s diagnosis was especially alarming because of the amount of people she could have made contact with throughout their journey to Mali. Once notified, WHO tracked down and quarantined 108 people who may have been exposed to Condé. Notably, no one in that group showed symptoms throughout the 21-day quarantine and were released in November.
On October 27, a few days following Condé’s death, another Ebola victim passed away. The imam had travelled to Mali from Guinea in search of a treatment for kidney failure he had for about one month. While doctors did not diagnose him, kidney failure is associated with late-stage Ebola. Soon after his visit to the Pasteur Clinic in Bamako, a nurse became sick and died, raising concerns about Ebola. On November 11, the nurse’s diagnosis of Ebola was confirmed. The hospital and areas that the imam and nurse had visited were quarantined, allowing health authorities to learn that a doctor at the clinic had Ebola as well.
Preventing the Spread of Ebola in Mali
In response to these outbreaks, emergency teams made from organizations such as WHO, Medecins Sans Frontieres, the United Nations and others were deployed in Mali. Certain groups already had a presence in Mali due to its shared borders with countries with Ebola outbreaks, allowing them to immediately take action. The history of Ebola in Mali was dramatically shorter than in neighboring African countries, largely because of the efforts of these organizations.
WHO, for example, was able to test blood samples in hours, hastening the process of diagnosis. They trained over 900 health workers to appropriately handle the outbreak. Preventative measures were taken as well; WHO provided hand washing facilities and temperature checks at hospital entry points.
In accordance with the tradition of diatiguiya, Mali did choose to keep its borders open. It continued to practice hospitality with its neighbors, despite the challenging circumstances at the time. Health checks were put in place, however, as preventative measures.
By January 6, 2015, the CDC had removed travel warnings in Mali, deeming it safe. On January 8, Mali was officially declared Ebola-free. The last Ebola patient tested negative on December 6, 2014, and no cases of ebola have come about since. The history of Ebola in Mali lasted a short few months because Mali effectively contained the virus wherever it appeared. In other West African countries, people were reluctant to believe in the Ebola virus and did not adhere to the recommended precautions, but Malians were more cooperative. The joint effort of citizens and aid groups ultimately lead to the successful containment of the Ebola virus in Mali.
– Massarath Fatima
Photo: Flickr
Top 10 Facts About Living Conditions in Yemen
As uprisings in Yemen continue to intensify, over 22 million people (75 percent of the population) are in need of humanitarian assistance, making Yemen’s population the highest number of people in need compared to the rest of the world.
In addition, Yemen’s economy has declined since the GDP per capita decreased 61 percent and 1.25 million civil servants are not receiving their salaries. In recent years, basic food prices have increased by 98 percent and unemployment rates are as high as 50 percent. Since 2017, the population living below the poverty line in Yemen has increased by 30 percent, putting it at 79 percent.
Ahmed Shwaa, a 59-year-old farmer displaced by the war, said: “We were living in a peaceful area and we were eating what we planted. We do not care about politics, we are not men of war, all that matters is to live in peace. But now, we cannot provide food for our family and we cannot live in peace.” For the citizens of Yemen, each day continues to be a struggle for survival.
Top 10 Facts About Living Conditions in Yemen
Despite the top 10 facts about living conditions in Yemen, various humanitarian aid organizations are determined to improve such conditions. Hope remains that these conditions will improve so that Yemenis no longer have to struggle for survival.
– Diane Adame
Photo: Flickr
Top 10 Facts About Hunger in Nicaragua
Nicaragua is one of the poorest countries in Central America and has the lowest GDP per capita. The country’s economy has grown in recent years, but 40 percent of the population remains in poverty. As a result, hunger in Nicaragua is a major problem. Here are the top 10 facts about hunger in Nicaragua.
Top 10 Facts About Hunger in Nicaragua
Fight Against Hunger
These top 10 facts about hunger in Nicaragua underscore the need for more sustainable agricultural practices. Thankfully, organizations like the WFP are active and can join the fight against hunger.
– Amelia Merchant
Photo: Flickr
A Brief History of Ebola in Sierra Leone
The history of Ebola in Sierra Leone can be traced back to December of 2014. The illness started out slow and unsuspecting as it crept across the land until really solidifying its grasp in May and June. From then on, the cases of Ebola continued to increase at an exponential rate.
The First Case and Subsequent Infection
The first case was that of an eighteen-month-old boy from a small village in Guinea. He was thought to have been infected by bats in the region. Soon after, other reports of Ebola-like symptoms became rapidly apparent. In March alone, there had been a reported 49 cases and 29 deaths.
One of the next infected was a house guest to the family of the index patient. She traveled home to Sierra Leone from Guinea unknowingly carrying the Ebola virus with her. She died shortly after her return due to the disease; however, her death was not investigated or reported until two other members of her family died.
The epidemic really began to flourish after the death of an infected traditional healer. The healer would treat Ebola patients across the border in Guinea but was a resident of Sierra Leone.
She eventually succumbed to the disease and a funeral service was held on her behalf; this is where the spread in Sierra Leone really increased. Thirteen women, all of whom attended the funeral, contracted the disease and eventually died as well.
A Death-Giving Funeral
Investigation processions commenced proceeding the funeral induced infections and it was found that 365 Ebola-related deaths started from that very funeral. It was also recognized that there were two strands of the virus present amongst the infected from the funeral.
In knowing the two variations of Ebola, researchers were able to retrospectively look for and trace the disease in blood samples. This made the containment of Ebola in Sierra Leone and respective infected regions much easier.
By the summer of 2014, the major town of Kailahun and its neighboring city Kenema were declared to be in a state of emergency. The World Health Organization (WHO) and other affiliated aid agencies provided and concentrated their response teams in the area.
The Ebola Epidemic
Unfortunately, the unsatisfactory public health infrastructure, the impoverished living conditions and the lack of preparedness aided the rapid spreading of the disease. By halfway through July, the aid teams from the World Health Organization buried over 50 bodies in the span of just 12 days in Kailahun alone.
Approximately two years after the first Ebola case was discovered, there were 28,600 cases and a resulting 11,325 deaths reported. The epidemic finally came to an exhausted end when Sierra Leone declared itself officially Ebola-free in March 2016.
Constant Vigilance
Unfortunately, the history of Ebola in Sierra Leone has continued in 2018 as the virus reared its ugly head again in May. The vigilance in regards to Ebola in Sierra Leone improved tremendously over the years since the first epidemic but it is still quite difficult to contain and extinguish.
Countless families and civilians still face the mental effects of the calamity from both the initial epidemic and the most recent devastation.
– Samantha Harward
Photo: Flickr