We are thrilled to announce a formal partnership with the Financial Sector Deepening Trust (FSDT), Tanzania’s preeminent resource for expertise and capacity building in financial inclusion. FSDT has been an indispensable collaborator in the development of our service and testing methodology since our first trip to Tanzania in 2011.
FSDT is a non-profit trust dedicated to deepening the financial system and providing access to finance for more Tanzanians. Its donors and strategic partners include the Bill & Melinda Gates Foundation, the Government of the United Republic of Tanzania, UKAID, DANIDA, SIDA, the Canadian International Development Agency, the Kingdom of the Netherlands, Rockefeller Foundation and Gatsby Foundation. Its work covers three theme areas: Agriculture and Rural Finance, Remote Access Finance, and SME Finance.
FSDT provides technical and financial support for First Access to implement and iterate its services in Tanzania to reduce the cost of lending and borrowing in the informal sector. As of 2011, FSDT’s comprehensive (and invaluable!) FinScope Survey determined that 3 out of 4 Tanzanians make their living in the informal sector and 9 out of 10 have no bank account.