Melac Microfinance Ltd is a financial services company established in Tanzania. We are licensed by the Bank of Tanzania as a Tier 2 Microfinance Service Provider under licence number MSP2-S25. Our head office is in Mwanza, and we serve customers in Mwanza, Geita, and other areas where our services are available.
We provide loans to individuals, salaried employees, farmers, organised groups, and businesses. Before a customer accepts a loan, we explain its cost, repayment schedule, and obligations.
Our core values are integrity and transparency, customer focus, professionalism, accountability, and compliance. We assess applications against the purpose of the loan and the customer's ability to repay.
Customers should be able to ask questions, understand the full cost of a loan, and know when each payment is due.
We offer loans for business, farming, education, household, and transport costs, subject to credit assessment.
We explain application requirements, loan costs, and repayment terms before a customer signs.
We give customers accurate information about costs, due dates, and requirements.
We ask what the loan is for and discuss repayments the customer can manage.
We handle applications carefully and keep customer information confidential.
We document decisions and follow through on what we tell customers.
We follow applicable financial rules and internal lending requirements.