Africa-Press – Tanzania. VIWANGO Savings and Credit Cooperative Society (SACCOS) has nearly doubled its loan portfolio over the past three years, rising from 4.2bn/- to 9.0bn/-, driven by prudent lending and tighter credit management.
The SACCOS, established by Tanzania Bureau of Standards (TBS) employees, also grew its savings from 4.0bn/- to 7.0bn/- between 2022 and 2025, while expanding membership from 425 to 465
The cooperative’s Chairperson, Eng Innocent Johnbosco, said over the weekend during its 39th Annual General Meeting (AGM) in Dar es Salaam that the growth in loans and savings reflects both members’ confidence and the effective management practices under his leadership.
Meanwhile, Dar’s Assistant Registrar of Cooperatives, Olivia Kaiza said SACCOS play a vital role in assisting individuals deal with economic pressures through structured saving and investment.
“By doing so, they will be in a stronger position to overcome financial challenges and drive development in various areas of their lives,” she said.
Eng Neema Msemwa, a member for over 16 years, said the institution has been a key support in helping her manage financial challenges.
Viwango SACCOS was registered on April 28, 1986 under the Cooperative Societies Act of 1982 with the primary aim of improving and strengthening the economic and social welfare of its members, guided by the principles of democracy, fairness, and the rules and regulations of cooperative societies, as well as national and international cooperative principles.
Its vision is to become a leading cooperative society in Tanzania that provides financial services and products that meet stakeholders’ needs with convenience, efficiency and affordability.
The society’s mission is to offer high-quality financial services and products that respond to members’ needs while upholding fairness and equality, with the goal of enhancing their economic and social well-being.
