|Coop Name: Oikocredit||N° of Employees: 254|
|City: Amersfoort||N° of Members: 815|
|Country: Netherlands||Year of formation: 1975|
|Website: http://www.oikocredit.org||Twitter: Link|
Oikocredit is a worldwide cooperative society. It promotes global justice by challenging people, churches and others to share their resources through socially responsible investments and by empowering disadvantaged people with credit. The Oikocredit name comes from the Greek oiko (house or community) and credere (to believe).
Savings, loans and coaching
Kitunda Savings and Credit Cooperative (SACCO) began in 2002 with the aim of providing financial access for people in the area of Kitunda, Tanzania. Located approximately 20 km outside the capital Dar es Salaam, residents of Kitunda have no bank and so depend on Kitunda SACCO for their banking. The SACCO provides savings and small loans to community members to start and grow small businesses and projects. It now has three branches, all of which strive to raise members standard of living, both socially and economically.
Hamida Majomo, recycler
SACCO member Hamida Majomo collects plastic bottles to sell in bulk to recycling companies. She started her business in 2008 collecting plastics, nylons and water bottles from different areas of Kitunda. The business benefits are not limited to Hamida, but extend to other collection agents who deliver their collections to her, which she sells on to recycling companies in the area.
After receiving support from Kitunda SACCO, Hamida has built a small house for herself. Hamida obtained three different loans at different times i.e TZS 300,000 (approx. 140), TZS600,000 (approx. 280) and TZS1.2m (approx. 555) respectively. The recycling factory buys the product at a price of TZS 300-400 per kg. She sells up to 1500kg per week.
Joyce Shujaa Kantande, Teacher
Joyce Shujaa Kantande became crippled as an adult, after delayed complications from a severe car accident she was in as a child. Joyce became bed-strikken, and unable to move as freely as she had before. Joyce began looking after her friends children while they worked, and found herself providing an in-demand service for her community. Requests grew, and soon, Joyce needed a new space to run the growing school. A loan from Kitunda SACCO built a classroom which enables Joyce to teach her classes of up to 30 students from a bed. Later, she expanded the school to include a nursery which she built with a further two loans from the SACCO.
Abdalah Mwinchande, Shopkeeper
Abdalah Mwinchande owns two wholesale stores which he opened four years ago after joining Kitunda Savings and Credit Cooperative. He is now repaying a loan of TZS 3 million (approx. 1390), which he used to grow his two businesses. With hard work and support from Kitunda SACCO, he has sent his children to better schools and constructed a secure, hygienic house with modern facilities.
Kitunda SACCO is an Oikocredit partner.