What is ViCoBa
Village Community Bank, Sustainable Development Agency (VICOBA) was introduced and registered in 2002 by Hon. Devotha M. Likokola with registration number 0714 in Songea, Ruvuma Region Tanzania.
Where is Originated?
The model of VICOBA was adopted from Gramen Bank of Bangladesh and SEWA of India and customized to fill in Tanzania environment.
How the Modal works
VICOBA specializes in empowering citizens especially women by acting as one of the instrument of reducing poverty in the country operating through forming saving groups providing them with necessary skills for transformation;
- Self-awareness training
- Enterpreneurialship skills
- Financial Literacy
- Leadership skills and other necessary life skills.
Within the groups member are encouraged to save entitled to access loans with low interest rates which become easy to get capital for their projects.
It is important to note that, in the beginning VICOBA started with one group in the rural area (Songea) but currently VICOBA services cover all over Tanzania with more than 22,500 groups.
VICOBA is built on the foundation of implementing Millennium development goals and the National strategies for poverty reduction which is Tanzania’s vision 2025, financial inclusion strategies.
In VICOBA we empower all citizens, our obligation is to work with poor people, listen to their needs and advise them where necessary.