This internship is also available as an on-site 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.

Your Remote/Virtual Internship 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 remote intern, you can contribute in all these areas. You can suggest your focus areas and work for instance in:

• Supporting the implementation of training, workshops, and information events (e.g., on business management, business planning, and/or accounting)
• Assisting in the strategy development of newly established VICOBAs
• Evaluating small businesses
• Marketing
• Creating loan assessments, credit monitoring
• Administration
• Project planning
• Customer care and service

As a remote intern with a microfinance organization, you should have a background or interest in finance, management, entrepreneurship, or other related fields.

You will communicate live via video conferencing software with your qualified internship supervisor for at least 2 hours per week. You will receive an introduction to the topic and the organization's work. You will also have the opportunity to participate live in VICOBA meetings or training sessions, even though those are usually conducted in Swahili. You will discuss the exact focus of your remote internship with your supervisor and receive tasks to complete and discuss afterward. You can decide how much time you want to invest per week, with any duration between 6-20 hours per week possible.