City Mortgage and Finance Corporation LTD Information

City Mortgage and Finance Corporation (CMF) was founded in 1998 in Dar es salaam, Tanzania. It was founded during a period when Tanzania was transforming from a socialist-based economy into market-based economy. With this transformation, there were fewer government sponsored social safety nets to provide subsidized services to lower income members of the society. n addition, it also became increasingly difficult to obtain loans from financial institutions such as banks. CMF was designed to bridge the gap that was caused by the loss of the government safety nets and the difficulty to obtain loans from banks for lower income households. CMF is premier microfinance company, which was created with the aim to alleviate poverty by providing a suite of high quality affordable financial and non-financial services in order to build individual and community capacity and enhance the economy. CMF has grown over the last 18 years to become an innovative and indigenous progressive financial institution that has improved the livelihood of both rural and urban communities while at the same time promoting social responsibilities as its main objects in doing business. CMF has helped thousands of low-income households, especially women, to lead lives of dignity through economic empowerment via financial access. CMF offers a wide range microfinance services and products in the cities of Dar es salaam and broader Pwani district, Bagamoyo, and Chalinze, working closely with various partners such as the Savings and Credit Cooperatives Organizations (Saccos) and Vikoba. CMF's products and services are especially designed keeping in view the clients' business and life-cycle needs.