Dr. Victoria wins 2009 TIAW World Difference Award

GBF Entrepreneur Dr. Victoria Kisyombe, wins the 2009 TIAW World of Difference Award for her work with SELFINA

November 2009--Dr. Victoria Kisyombe, founder and director of Sero Lease and Finance Ltd (SELFINA), a for-profit microleasing company that provides and training and economic opportunities to women in Tanzania, won The International Alliance for Women (TIAW) World of Difference 100 Award.

Created in 2008, the TIAW World of Difference 100 Awards recognizes women such as Dr.  Victoria, whose efforts have advanced the economic empowerment of women locally, regionally or worldwide. In 2009 over 50 women from 23 countries were named.

Dr. Victoria is a leader who has used innovation, initiative and determination to empower women in Tanzania to become economically self-sufficient. Given women’s lack of collateral and lack of access to capital, Dr.Victoria began piloting microleasing as a solution. Through SELFINA, she changed the criteria of eligibility to enable women with no assets and little business experience to engage in commercial activities to support themselves and their families. Dr. Victoria’s successful microleasing model has generated praise beyond Tanzania, and efforts are under way to expand the model to other countries in the region.

The Grassroots Business Fund will help SELFINA grow, expand geographically and attract additional investment. It will also support SELFINA in a new financial product: developing a “Next Stage Fund” offering larger, longer-term financing and technical assistance to repeat clients.

TIAW is a global umbrella organization comprised of more than 40 networks representing more than 50,000 women around the world. TIAW’s mission is to support the economic advancement of women by connecting professional women and their networks to work together, share resources, leverage ideas.