Volunteer

VSLAs MICROFINANCE

YHAD-TANZANIA facilitates the Village Savings and Loaning Associations (VSLAs) project. It is a pilot project with three self-help groups (Bikira Maria Group, Tufaidike Group and Jitegemee Group) all at Muhutwe Ward in Muleba District and progressing successfully. The primary purpose of a VSLA is to provide simple savings and loan facilities, in a community that does not have access to formal financial services. Loans also provide a form of self-insurance to members, supplemented by a Social Fund that provides small but important grants to members in social distress. The basic principle of the VSLAs system is that members of a self-selected group voluntarily form a VSL Association and save money in the form of shares. The savings are invested in a Loan Fund from which members can borrow, repaying with a service charge added. This program seeks to enhance formation of as many VSLAs as possible, which in turn will join to form Networks that can jointly form SACCOSs and finally a Bank. We look forward to scale up this project throughout all villages. We welcome people to volunteer in educating and working with the youth, women and community members through this vibrant program that makes an economic impact changing rural livelihoods.