- Loan Successfully Funded On 25 Dec 2024
Waste Management Services in Tanzania
Tanwaste
- Kahama & Mwanza, Lakes Region, Tanzania
Menu
- 120,735 USD
Loan successfully funded
Waste management is a public health challenge and an essential utility that is often underdeveloped in emerging markets. Tanwaste provides quality waste services to the people of the Lake Zone Tanzania, creating meaningful, safe jobs. They have been invited to expand into additional areas, and bid for private contracts, which will increase their fleet, staffing requirements, and their overall impact. This impact loan provides Tanwaste with operating capital to deliver its contracts.
- 16 Lenders
Committed
- 24 months
Loan Period
- 10%
Interest Rate
- BACKGROUND
Loan summary
This loan consolidates Tanwaste’s three loans with LendForGood into a single facility.
Each of Tanwaste’s loans were to raise necessary capital to deliver public waste management contracts and enable expansion into new areas, new waste streams and private contracts, building on their early success.
You can see full details of those loans here:
Tanwaste has set out to meet demand for essential waste management services in an underserved market and to create meangingful, safe jobs for Tanzanian people in the waste management industry.
Borrower's mission
Tanwaste delivers impact through a cleaner environment (which also helps reduce health risks), meaningful employment and cleaner & safer communities.
Their first contract in the rural Kahama area allowed them to create employment for over 30 people and service over 175,000 households.
In only their 4th month of operations, Tanwaste passed their initial target of 1 million shillings per day (˜$675AUD), and deployed 3 trucks, including two compactors and one tipper, in their servicing of rural Kahama areas.
Tanwaste maintains a long term vision of creating cleaner environments and employment opportunities in Tanzania. The purchase of an incinerator allows the team to service both private clients and medical facilities, and combined with a licence to process hazardous waste materials, will further increase their revenue opportunities and financial sustainability.
The activities funded by this loan are helping to achieve the above Sustainable Development Goals as defined by the UN.
Intermediary's experience with impact enterprises
For more than 9 years, Red Hat Impact has helped impact enterprises by raising capital and providing other kinds of business and strategy support. We have raised more than $3M from our network of impact investors, and loaned this capital to support 30 enterprises. We use a crowd-lending model to raise loan capital. As of May 2024, we maintain a 98% success rate on loan repayment. We establish close working relationships with all of the impact enterprises we raise debt capital for, and co-manage risks with them during the loan term.
- IMPACT
Impacts and how they are measured
Tanwaste’s primary impacts are: Tanwaste expects that securing new urban and private contracts will see significant increases in positive impacts. Over the full loan term, Tanwaste will substantially grow its workforce and the volumes of waste collected. Adding hazardous waste collection will create additional positive impacts.
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