The Effects of Village Community Banks (VICOBA) on Economic Empowerment of Women in Tanzania – A Case of Temeke Municipality
Emma A. Mwingizi
Department of Postgraduate and Research, Kampala International University in Tanzania, Dar es Salaam, Tanzania
Amon Chaligha
Department of Postgraduate and Research, Kampala International University in Tanzania, Dar es Salaam, Tanzania
Lucas Antony Kisasa
Department of Postgraduate and Research, Kampala International University in Tanzania, Dar es Salaam, Tanzania
ABSTRACT:
The study examines the effect of VICOBA on economic empowerment of women in Temeke Municipality specifically in two wards which are Temeke and Yombo Vituka. The main objective were to assess the effects of VICOBA on women’s economic empowerment in Tanzania and Temeke Municipality, to identify major challenges facing women’s participating in VICOBA which hinder improvement of their standard of living, to identify economic activities catalyzing business expansion by VICOBA to the women’s members group, to find out factors influencing share availability into VICOBA on women’s members group. The study used descriptive research design, and sampled 140 respondents which included VICOBA members and leaders in Yombo Vituka and Temeke Wards. The researcher used surveys, looking at documents, and questionnaires with interviews to gather data for the study. They then used special software for social science to analyze the results. The results also revealed that 85% of the people surveyed found the low credit rate strategy helpful, especially for VICOBA members in the group. This strategy helped them by allowing them to build houses, pay their electricity bills, rent, school fees, and other expenses related to school. The findings further indicate that there is a link amidst women’s economic empowerment and the VICOBA groups. The study shows that Vicoba groups are dealing with different problems inclusive of, shortage of entrepreneurship skills, insufficiency trust among VICOBA members, poor business environment, and some members disappearing before paying the loans. The findings show that such problems can be overcome by facilitating of entrepreneurship skills, development of stable market for domestic products, and microfinance like VICOBA should put more emphasized to its member to invest more in business activities in order to promote their economic empowerment at larger scale.
Published in: International Journal of Recent Advances in Multidisciplinary Topics (Volume 5, Issue 11, November 2024)
Page(s): 135-145
Date of Publication: 28/11/2024
Publisher: IJRAMT
Cite as: Emma A. Mwingizi, Amon Chaligha, Lucas Antony Kisasa, “The Effects of Village Community Banks (VICOBA) on Economic Empowerment of Women in Tanzania – A Case of Temeke Municipality,” in International Journal of Recent Advances in Multidisciplinary Topics, vol. 5, no. 11, pp. 135-145, November 2024.