Remote Microfinance Internships: Hosted out of Tanzania

Internship details

Use your finance, accounting and business management experience to support disadvantaged communities in Tanzania through this virtual internship in microfinance.

This is a remote internship you can conduct from home. Click here to view our Finance internships that you can do in-country, if you’d prefer to travel and intern abroad.

Many people in Tanzania lack access to even small amounts of money and are unable to apply for bank loans, due to insufficient collateral. This is one of the region’s biggest developmental hurdles.

In rural areas, there are so-called “Village Community Banks” (VICOBAs), which work to promote financial stability and economic independence. These organizations manage available funds within a group or village community and distribute them as microloans.

A similar concept exists in cities, where savings groups are often referred to as “Economic Empowerment Groups.” Each group consists of 25 to 30 members living in the same village or neighborhood. Although membership is not limited to women, a large proportion of members are female, such as up to 90% in the Kilimanjaro region.

Access to microfinance support can assist people with a range of small-scale entrepreneurial activities, such as tools and machinery purchase for agricultural work, or start-up capital to launch businesses like small shops, eateries, hair salons, copy shops, etc. These initiatives are invaluable for creating sources of income and enhanced opportunities for people and their families. Additionally, microloans can provide access to education, such as paying for school fees or related costs like uniforms and books.

Remote Microfinance internships, hosted out of Tanzania, are provided through various organizations in the Kilimanjaro region, managing Village Community Banks (“VICOBA” groups). Qualified staff are available to support the online internship experience, with a range of knowledge to share, related to finance, entrepreneurship, and the challenges faced by people with low socioeconomic status.

Interns have scope to learn about how such organizations advise members, provide evaluations, training, and workshops on topics such as business startup, project development, marketing, business plan creation, and strategy development, while also investing group funds profitably.

Through regular meetings and training sessions, participating women and men can expand their knowledge in finance, administration, and entrepreneurship, becoming active members of their community.

In all cases, interns should expect that the initial phase of their remote internship will focus on gaining some introductory knowledge. You may start by gaining an understanding or overview of what you can build upon, develop, learn, and contribute. This will often involve your supervisor assigning you with the relevant readings or presentations before being assigned into case studies. The main purpose of providing these readings and presentations is for you to gain a better context of the difference of the Tanzania legal system to your home country, and to build the basic foundations in order to progress to the next stage of the internship. Your supervisor will customize the program according to your relevant experience, skill level, and educational level.

What are the career benefits of interning abroad as a Microfinance Intern?