ACA 5,500     ACA 5,500     ACA 5,500     CRDB 150     CRDB 150     CRDB 150     DCB 340     DCB 340     DCB 340     EABL 4,340     EABL 4,340     EABL 4,340     JHL 8,250     JHL 8,250     JHL 8,250     KA 210     KA 210     KA 210     KCB 890     KCB 890     KCB 890     MBP 500     MBP 500     MBP 500     NICO 295     NICO 295     NICO 295     NMB 2,340     NMB 2,340     NMB 2,340     NMG 1,520     NMG 1,520     NMG 1,520     PAL 400     PAL 400     PAL 400     SWIS 2,660     SWIS 2,660     SWIS 2,660     TBL 13,000     TBL 13,000     TBL 13,000     TCC 17,000     TCC 17,000     TCC 17,000     TCCL 640     TCCL 640     TCCL 640     TOL 660     TOL 660     TOL 660     TPCC 2,060     TPCC 2,060     TPCC 2,060     TTP 120     TTP 120     TTP 120     SWALA 490     SWALA 490     SWALA 490     USL 20     USL 20     USL 20     MKCB 800     MKCB 800     MKCB 800     MCB 500     MCB 500     MCB 500     YETU 600     YETU 600     YETU 600     MUCOBA 400     MUCOBA 400     MUCOBA 400     DSE 1,400     DSE 1,400     DSE 1,400     VODA 800     VODA 800     VODA 800     TICL 450     TICL 450     TICL 450     

Mufindi Community Bank Ltd (MuCoBa)

End of Day - 7 Dec 2018
400 Previous 400 0 ( 0.00% ) 0 High 0 Low 0 Volume 0 Turnover - 400 1 Year Range

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Sector : Banks, Finance & Investments


The historical background of MuCoBa starts in 1984 when some residents of Mufindi district established a local NGO called Mufindi Education Trust (MET) with the aim of promoting secondary education in the district in order to fight against illiteracy.

In 1996 MET established a revolving fund that was known as Incomet Fund Ltd under the support of a Belgian NGO called by then ACT (now TRIAS) with the primary objective of providing credit facilities to its workers. The Fund proved to be very useful especially to the medium and low income earners and therefore its services were extended to others. The Fund was very useful to such people because at that time there was only one bank in the district (The National Bank of Commerce Ltd) and besides its presence, the conditions to acquire both deposit and credit facilities were not suited to the low and medium income earners.

Due to good experience of this Fund, it was observed that having an institution that would provide microfinance services to all residents in the district would be of paramount importance and hence, the idea of forming MuCoBa.

Mufindi Community Bank Ltd (MuCoBa) was established in December 1998 under Companies Ordinance (Cap 212) with Registration No. 35471. MuCoBa was given a licence by the Bank of Tanzania (BOT) to conduct banking operations as a first Community Bank in Tanzania in May 1999 with licence No. MFI A 00001. MuCoBa started operations to the public in June 1999.