FAIDIKA LAUNCHES A NEW 30 MILLION SHILLING EXECUTIVE LOAN

FAIDIKA Chief Executive Officer, Ms. Marion Moore (centre) briefs the media (not in the picture) on the newly launched 30 Million shilling Executive Loan in Dar es Salaam over the weekend. With her is Mr. Haule Stephen (left), FAIDIKA Regional Sales Manager and Andrew Omusambayi (right), Head of Brand and Marketing.

FAIDIKA, a Financial Services firm has launched a new product dubbed 'Executive Loan' which aims at providing up to 30 million shillings worth of unsecured credit easily accessible to government employees.

Speaking at a press conference in Dar es Salaam over the weekend, the Faidika Chief Executive Officer, Marion Moore said that the Executive Loan product is one of the most unique products to ever have been used to facilitate the disbursement of loans to government employees.

“Our Executive Loan Product is a first of its kind from FAIDIKA to be introduced in the Tanzanian market and will enable many government employees to have access to higher funding to upgrade their standard of living by engaging in larger projects. With disbursement starting from ten million up to thirty million and repayment between six to sixty months. ” said Moore.

“The Executive Loan Product is tailor made for the Tanzanian market as the applicant doesn’t need to produce any collateral or security to get a loan and the loan is processed within 48 hours” she noted.

On his part, commenting on the product, FAIDIKA Regional Sales Manager, Mr. Haule Stephen said that an applicant needs to provide two salary slips for the last two months, banking statement for the last two months, an identity card and one passport size photo to be able to qualify for a loan. He also announced that the ceiling on the regular FAIDIKA loans had been raised from 10 million to 20 million.

“Our intention is to see the living standards of Tanzanians upgraded through easily accessible financial inclusion,” said Mr. Stephen.