Monduli, Tanzania – CORDS has successfully launched microfinance village banks in the villages of Indonyonaado and Emurua, Monduli District, as part of its ongoing efforts to empower Maasai women. Women in these communities, mobilized and supported by CORDS, have formed microfinance groups aimed at boosting income-generating activities (IGAs).

In a significant step toward financial independence, the Namunyak women group in Emurua had already begun operating its microfinance bank, with loan capital provided by CORDS through a revolving fund. Meanwhile, preparations are underway to provide similar support to the Nasinyari women group in Indonyonaado. Both groups have developed comprehensive constitutions to guide their operations.

Since its inception in early 2022, the Namunyak group’s microfinance bank has seen success, with women establishing and running various IGAs. The bank operates on the VICOBA (Village Community Bank) model, allowing members to borrow funds and repay them with a small interest after six months, fostering economic growth and self-reliance among Maasai women.