VICOBA scheme attracts younger age group

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By Mnaku Mbani
The Village Community Bank (VICOBA) scheme in Tanzania attracts Tanzanians aged between 18 and 34 than their counterparts aged beyond 35 years.
According to the findings of the study titled “Failure and Collapse of Village Community Banks in Tanzania: Some Findings from Meru District in Arusha Region most of VICOBA members are young.

The study results have shown that at least 44.2 per cent of all respondents were in age category of 25-34 years, followed by 22.7 per cent of the age category 18-24 years.
While those in their late 50’s, i.e. between 55-64 years represented 7.3%).
This implies that majority of respondents in the study areas were matured people within the active working age group.
The importance of marital status was to identify which groups in the study area are mostly engaged into VICOBA groups by performing different income generating activities compared to the other.
The respondent marital status analysis distribution shows married people were 54.5% of all population.

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