The Lishe Bora Village Community Banking (Vicoba) groups continue to help families improve their lives through community support, access to capital, and hard work. The group is also exploring new ways to generate income and support each other.
The Mkyashi-based group now has nearly 1,500,000 TZS (US $730) in their loan fund and 285,000 TZS (US $139) in their family support fund. In addition, seven members have a total of 375,000 TZS ($182) on loan. 10 members have already finished repaying their first loans.
In June, the Mkyashi Vicoba had a meet up with an older Vicoba from a neighboring village to share best-practices. They learned that the neighboring Vicoba has a system where they operate a “Duka la Vicoba” – Vicoba Shop. They purchase household staples in bulk as a group and then sell them to each other at wholesale prices. If the store turns a profit, the money is invested into the groups loan fund. The Mkyashi-based group is hoping to start a similar system in the coming months.