The Kaloleni Village Community Bank (VICOBA)
The Kaloleni Village Community Bank (VICOBA) was an initiative of Team Vista Tanzania. Founded in 2013, the Bank at first aimed to help residents of Kaloleni, the community by the rubbish dump where Team Vista is located, but has now expanded to also include members from Moshi township.
There are now two VOCOBA branches in Kaloleni. The members of VICOBA would meet each Thursday morning at Team Vista House.
Each memeber deposits a small amount every week (5,000 TSH) and slowly builds up their account.
The organisation is strictly monitored by the local government.
VICOBA members are now able to deposit through empesa so there is no need to hold weekly meetings. Members do however meet on s monthly basis.
Members use the funds for a variety of purposes – buying land, purchasing equipment for businesses and paying school fees are among the most common. All agree that without the VICOBA, they would not be able to achieve their goals.
Team Vista is proud to support this important community venture, which has grown in members considerably in the recent past.
There are now two VOCOBA branches in Kaloleni. The members of VICOBA would meet each Thursday morning at Team Vista House.
Each memeber deposits a small amount every week (5,000 TSH) and slowly builds up their account.
The organisation is strictly monitored by the local government.
VICOBA members are now able to deposit through empesa so there is no need to hold weekly meetings. Members do however meet on s monthly basis.
Members use the funds for a variety of purposes – buying land, purchasing equipment for businesses and paying school fees are among the most common. All agree that without the VICOBA, they would not be able to achieve their goals.
Team Vista is proud to support this important community venture, which has grown in members considerably in the recent past.