Deputy Minister of Finance, Mr. Mshamu Ali Munde (MP), has said the Government will continue to collaborate with financial institutions including the Tanzania Housing Credit Corporation (TMRC) to enable the financial sector to access affordable loans, a move that will help the low-income community to own quality housing.
Mr. Munde said this in Dar es Salaam on behalf of the Minister of Finance, Mr. Khamis Mussa Omar (MP), while officially launching the housing microfinance service in Dar es Salaam, established by the Tanzania Housing Credit Corporation (TMRC) in collaboration with Habitat for Humanity International.
He said their goal is to enable financial institutions to access liquidity of 30 billion shillings so that they can provide microfinance loans to low-income citizens with the aim of enabling them to own quality housing.
“The government supports such initiatives that aim to address housing challenges, especially for low-income citizens who face greater barriers to accessing formal loans due to lack of collateral required due to their low or informal income”, said Mr. Munde.
He said these services support the Government’s efforts to increase access to quality and affordable housing that meets the expectations of low-income citizens, and assist the Government in serving its citizens in the housing sector.
Speaking during the official launch of the housing microfinance service, the Executive Director of TMRC, Mr. Elibariki Ndossi, said the main objective is to enable Tanzanians to access quality housing.
The Director of Housing Loans from Habitat for Humanity Tanzania, Mr. Daniel Mhina, said that through the project, citizens will not be required to have real estate collateral to access the loan.
They said that the move follows a study conducted by these institutions, which shows that only about 3% of Tanzanians access housing loan services, a situation contributed by many unable to afford the terms and rates of the loans.
Since the establishment of TMRC in 2010, the institution has contributed to the facilitation of housing loans from 76.7 billion shillings to 745 billion shillings in 2025.
