Arusha/Tanzania, Feb. 15 2018
Village Community Banking In Tanzania Ready for Digitalization
After a long and fruitful meeting, the hosting Bishop and VICOBA-leaders of the Eastern Mennonite Diocese in Dar es Salaam/Tanzania gather for a group photo with UHURU Microfinance Consulting´s board members Andreas and Mesika. After having presented the results of a survey that captured data of over 300 members of Tanzanian VICOBAs from all over the country, this group is ready for the next level of Village Community Banking. Similar promising commitments from the corresponding group in Arusha/Northern Tanzania were recorded the following day on location. Another conference will be held in Musoma/Lake Victoria during the next few days.
Over one hundred savings groups with an average of 30 members cater for the financial inclusion of approximately 30.000 people, taking the benefitting family members into account. An outstanding success of a group savings scheme that was started five years ago.
UHURU MC is now getting ready to prepare all necessary next steps to migrate existing pen-and-paper-processes to a digital environment, thus
• Minimizing risks of physical money transport
• Increasing transparency by centralizing availability of data for all groups, donors and investors
• Exchange experiences between groups that previously operated isolated
• Manage liquidity between groups
• Pooling purchasing power and many more benefits.
There is a lot to be done and we, at UHURU MC, are so much looking forward to being a part of this success story and continue working with wonderful people!