Moshi, TZ – Maendeleo Task Force members create VICOBA to increase their impact – 7 Sep 2018

Furaha Group (“Happiness Group”) has big dreams for the impact they can have in their community. Furaha Group is what parents in the Maendeleo Primary School Task Force call themselves. In December 2017 the group started a VICOBA microfinance group. The benefits of starting a VICOBA were:

• Give group members personal incentive to attend weekly meetings
• Deepen relationships among group members for stronger mutual support
• Add value to Task Force membership by providing access to savings, loans, and group projects

Curently, group members have invested over 800,000 TZS (USD $372). They have distributed the following loans:

Amina Juma received 50,000 TZS to open a vegetable kiosk and repaid the loan in 3 months.

Hadija Joseph received 50,000 TZS to start a vegetable kiosk and repaid the loan in 3 months.

Juma Mohamed received 200,000 TZS to invest in his bean farm. He has repaid half the loan and will repay the other half after her harvests.

Kundael Nyange received a loan of 200,000 TZS to invest in his bean farm. He has repaid half the loan and will repay the other half after her harvests.

Nazaeli Mwarusha received a loan of 50,000 TZS for corn farming and repaid the loan in 3 months.

Hemedi Sunkari received a loan of 200,000 TZS to invest in his transport business. He plans to repay his loan in the next 6 months.

Rehemaeli Moses received a loan of 141,000 TZS for bean farming. She plans to repay it when she harvests in early 2019.

Consolata Fabian received a loan of 200,000 TZS for bean farming. She plans to repay it when she harvests in early 2019.

Neema Kilango received a loan of 200,000 TZS and invested in a tailoring business with her family. She plans to repay in 1 year.