
Microfinance in Tanzania
1 - 24 weeks
English
All year
18+
580 EUR
Volunteering or Internship
This internship is also available as an remote/virtual internship.
Village Community Banks (Vicobas) and Economic Empowerment Groups
Many people in Tanzania lack access to even small amounts of money in the form of bank loans due to insufficient collateral. This is one of the region's biggest developmental hurdles. In rural areas, there are so-called "Village Community Banks" (VICOBAs) aimed at promoting financial stability and economic independence by managing available funds within a group or village community and distributing them as microloans. A similar concept exists in cities, where savings groups are often referred to as "Economic Empowerment Groups." Each group consists of 25 to 30 members living in the same village or neighborhood. Membership is not limited to women, but around 90 percent of the members in the Kilimanjaro region are female.
The VICOBA concept has three main advantages:
- Entrepreneurial Support: Members of a VICOBA group can implement entrepreneurial ideas or projects. Typical projects include those in agriculture (e.g., purchasing machinery for the cultivation or processing of agricultural products), services (e.g., opening a small shop, restaurant, food stand, hair salon, copy shop, etc.), and crafts & manufacturing (e.g. buying machinery, equipment, tools and materials for producing goods) to create a source of income for themselves and their families. Additionally, microloans can provide access to education, such as paying for school fees or related costs like uniforms and books.
- Confidence Building: Through regular meetings and training sessions, participating women and men can expand their knowledge in finance, administration, and entrepreneurship, becoming active members of their community.
- Basic Security: VICOBAs offer a basic insurance fund to cover medical expenses or other unavoidable difficulties requiring quick financial access.
Volunteering and Internships in Microfinance
We collaborate with various organizations in the Kilimanjaro region that manage different VICOBA groups. They have qualified staff knowledgeable in finance, entrepreneurship, and the challenges faced by people with low socioeconomic status in Tanzania. They ensure VICOBAs adhere to internal statutes, resolve conflicts within the groups, advise members, and provide evaluations, training, and workshops on topics such as business startup, project development, marketing, business plan creation, and strategy development, while also investing group funds profitably.
As an on-site volunteer or intern, you actively contribute to developing financing and income opportunities in rural Kilimanjaro and/or the poorer districts of Moshi Town. You help individuals and their families, who lack access to conventional bank accounts and funds, sustainably improve their livelihoods. You work Monday to Friday with your microfinance organization. The typical working hours are from around 8 AM to 5 PM. You may also visit Vicobas and small entrepreneurs in the villages around Kilimanjaro to attend regular group meetings, conduct training sessions, or evaluate business activities, which may extend your working hours.
Your specific tasks can be adapted to your interests and are usually varied. Possible tasks include:
- Assisting with training, workshops, and information sessions (e.g., on business management, business planning, and/or accounting)
- Supporting strategy development for newly established VICOBAs
- Evaluating small businesses
- Marketing
- Preparing loan assessments and monitoring credits
- Administration
- Project planning
- Customer care and service
As a volunteer or intern with a microfinance organization, you should have a background or interest in finance, management, entrepreneurship, or other related fields.
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What is included?
- Arrangement of your internship
- Contribution to your microfinance organisation
- Individual Consultation and Preparation prior to your arrival
- Access to the World Unite! Knowledge Base which has preparation materials including intercultural preparation, compiled particularly for your destination
- Preparation Session via Zoom, together with further participants
- Applying for official permits
- Pick-up and Transfers from/to Kilimanjaro International Airport (JRO) on arrival and departure (scheduled arrival should be Monday, Wednesday, or Friday between 4 AM and 11 PM)
- Personal support staff at your location and at our international office
- Orientation and Introduction in Moshi
- Accompanying you to your placement on your first day
- 24 Hours emergency support by local support team
- To compensate for the CO2 emissions of your long-haul flights: Costs for 10 seedlings of indigenous trees that we plant on the slopes of Kilimanjaro
- Local SIM Card
- Issuance of Confirmations/Certificates for your university, scholarship, insurance, etc. and filling out/signing Internship Contracts for your university
- 15% Discount for Safaris, Kilimanjaro Climbs, Excursions and Watersports Activities offered by "Budget Safari Tanzania"
- Participation in World Unite! Cultural Workshops and Activities in Moshi at no extra cost!
Not included?
- Meals (except when booking a host family, which includes daily breakfast and dinner)
- Travel to/from Tanzania (you book it on your own; we can assist you)
- Official fees for Visa
- Insurance (Travel Health Insurance, Liability Insurance, Travel Cancellation insurance)
- Personal Expenses (e.g. Internet, local transport)
- Vaccinations
INSIGHT
this program
Great opportunity to fully understand the important development tool of Microfinance!
Participant discounts on safaris and excursions
Gain practical work experience by working on real projects
Exciting cultural activities included
Top support from our local team
Questions?
your consultant for this program is
Kareen Leodgard
(she/her)
- PHONE numBerView our international phone numbers
- Email
This email address is being protected from spambots. You need JavaScript enabled to view it. - Whatsapp+81-90-4702-1361
- INQUIRYSend an inquiry
- Video callBook a video call
