Amani and Upendo women group microcredit scheme development : Mbezi Ward - Dar es Salaam, Tanzania
Date
2005
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Southern New Hampshire University
Abstract
This report is the output of the study which has been exploring ways in which the community based organizations can be used as instruments to alleviate poverty. The aim was to explore the extent to which the CBOs are practical, dynamic and potential actors in promoting desired socio-economic development activities in the struggle to alleviate poverty. Micro-credit, micro-financing and micro-enterprises are terms that have been used to describe and define the situation in which small loans are extended to people for the purposes of setting up small and usually self-employment projects that generate income. The research conducted aimed at examining micro-credit schemes as grassroots organizations, membership participation and accessibility, demand for credit and ways to increase lending portfolio through proposal preparations and their modus operand -which are inherent catalytic element to make them practical, dynamic, sustainable and potential in their activity sphere. The study has revealed that the credit facility is important in fostering small scale entrepreneurs to be more practical and proactive in delivering socio-economic activities. The role played by the CBO in creating entrepreneurial morale to small businesses in their locality is acknowledged. The CBO is ready to expand its services as acknowledged by demand of loans and readiness of members to access the loans. Borrowers are organized into groups and have showed their satisfaction with the current leadership. They have income generating activities, which reduce the risk of default. There are also effective mechanisms through which to disseminate valuable information on ways to improve relevant concerns of the members. Above all, the CBO has targeted one of the most vulnerable groups in society - women. By providing opportunities for self-employment, the micro credit programmes will significantly increase micro entrepreneurs' security, autonomy, self-confidence and status within the households. (Author abstract)
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