SEDIT (Social and Economic Development Initiatives of Tanzania) is a member based, Tanzanian Non Governmental Organization, Registered on 23 February 2005 under the Registrar of Societies of the Ministry of Home Affairs of the United Republic of Tanzania with Registration Number: SO 13048.
THE VICOBA MODEL
Key thematic areas that SEDIT is committed include financial inclusion, savings groups using VICOBA and VSLAs, Rural development, Sustainable livelihoods, microfinance, enterprise development, environmental conservation and natural resources management, health and sanitation etc
VICOBA (Village Community Banks) It is participatory grass root development model operating through self selected groups of people of 25-30 members who are essentially in smaller groups of fives called collateral groups (these acts like pressure groups). Members elect management committee; all members are trained on business management, entrepreneurship and group management on their weekly meetings. The banking operation starts by pre determining group share value, of which can Tsh.3000, 5000, 10,000 etc, each member has to buy between 1-3 shares per week plus other pre determined health, education and group operations funds. To-date, SEDIT has over 4000 groups with over 100000 members in 40 districts, group capital amounts to over Tsh.50 Bil.