AML was registered on 19th April, 2010 as a limited liability company and started operations in the same year. It holds a Certificate of Incorporation No. 75969. The company is licensed to offer financial services as a Microfinance Lender and as a non-deposit-taking financial institution. Up
AML has an authorized share capital of 40,000 ordinary shares of TZS 10,000/= each, of which 30,000 are issued and fully paid.
The company was registered as ‘African Microfinance Limited (AML)’ in 2010 and as a microfinance lender with a vision to be a “Leading Microfinance Institution in Tanzania” and a Mission to provide “financial solutions to individuals who feel denied such services by conventional banks”. However, beginning in 2015 the company has been in the transformation mode by embracing more SME clientele, as opposed to micro enterprises, and reducing its exposure to ‘Group Lending’, which is one of the traditional targets of the microfinance business. Lending to individuals has also been redirected towards the more economically empowered ‘salaried employees’.
Following a thorough business review carried out from May to August 2018, the Board of Directors made a strategic decision to rebrand the company by changing its name to AML Finance Limited (AML), and redrafting the Vision, Mission and values of the company with a view to focusing on and servicing the upper–end SMEs, as well as reorganizing the company to deliver a more effective and efficient service.
This Strategic Business Plan (2019 – 23) was developed on the basis and direction of the new Vision and Mission approved by the Board of Directors on 17th November 2018. The aim of this Plan is to translate the Vision and Mission of the company into a plan of action over the next five (5) years, commencing in 2019, with annual budgets, to provide a level of performance consistent with the expectations of its shareholders, directors and employees.
Job Vacancy at AML Finance Limited, September 2021 - Credit Manager, please view the full Description below.......
