The Ikwiriri Bread Makers: Revolving Loan Scheme Enables Bread Makers to Launch Enterprise and Earn Healthy Profits

They contributed 300,000 TSH ($198) of their own money and borrowed 900,000 TSH ($593) from Camfed's Revolving Loan Scheme to launch a bread making enterprise. The group successfully launched and began to scale a profitable enterprise, earning sales of 325,000 TSH ($214) per month. The Revolving Loan Scheme, offered by Camfed, enables young women in rural areas to set up viable small enterprises in response to the lack of provision of local goods and services. Members of Cama, Camfed's young women's empowerment network, contribute to the loan scheme every week or month. When the fund reaches 1 million shillings ($712) and above, Camfed contributes three times their capital to the fund. Cama members who have contributed to the loan scheme can then apply for a loan through the Cama district Revolving Loan Scheme committee, ranging from two- to three-times what they have initially contributed. The Ikwiriri Bread Makers used their loan to purchase an electrical oven and all the equipment needed for bread making. They successfully repaid their loan payment of 470,000 TSH ($310) within one year. The group's success demonstrates the effectiveness of the Revolving Loan Scheme in promoting economic opportunities and independence for young women in rural Tanzania. The Revolving Loan Scheme promotes the idea of scalable businesses instead of relying on subsistence businesses. By providing access to capital and business training, the scheme enables young women to launch and scale small enterprises. This approach has a positive impact on the local economy, as it addresses the lack of provision of local goods and services. The Ikwiriri Bread Makers are now seeking to expand their skill set to learn wedding cake decorating, birthday cake making, and other services related to parties and social gatherings. This expansion will enable them to diversify their business and increase their revenue streams. The group's success is a testament to the potential of the Revolving Loan Scheme in empowering young women in rural Tanzania to achieve economic independence and prosperity.