CARE Tanzania wins an award for its work with Savings Groups

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The Prime Minister’s Office National Economic Empowerment Council (NEEC) hosted the inaugural VICOBA day meeting. VICOBA (Village Community Banks) are off shot of the VSLA model and it is estimated that in Tanzania there are approximately 100,000 savings groups with TZS 1.2 Trillion (USD 533,688,000) in circulation. The event was an opportunity to discuss how we can do better and the challenges that savings groups face. Scholastica (Director for Gender Equity and Women’s Empowerment) participated in a panel debate where she discussed the guidelines for VSLA groups and shared information and data on how we can further improve the operation of the groups.

During the event CARE International Tanzania was awarded a certificate of appreciation in recognition of our contributions in the Formation and Development of Financial Groups in Tanzania - and our overall contribution to the Tanzanian economy. When CARE Tanzania was awarded the certificate, the Minister of Finance highlighted CARE’s long-term contribution to financial inclusion in the country. CARE was the first organization to introduce  VSLAs in Tanzania and since 1998 we have inspired many other organizations to work with and adapt our methodology. While we are very proud of this award and the Government’s acknowledgement of our work,  we are also aware that we still have a lot of work to do.

We received this award because of talented and dedicated team. So everyone – thank you for your hard work and your commitment in supporting men and women in Tanzania.

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