Banking on Change in Tanzania has brought a lot of development to young entrepreneurs by looking at solutions that can help normal Tanzanians save and also get a loan. There are several financial inclusions in this project like the Input Marketing Associations (IMAs).
Barclays Tanzania has played a major role also in mobilising the Village Savings Loans Associations (VSLAs) which enables the community involved in Banking on Change to save and also get loans to drive their personal development. Barclays, in partnership with CARE and Plan, is working to strengthen the livelihood security of 60,000 households in Kisarawe, Kibaha, Ifakara, Dar, Urban, Mwanza and Geita in Tanzania.
The Banking on Change project, a three-year global community investment programme, is aimed at improving the quality of life of around 400,000 disadvantaged people by developing and extending access to basic financial services. The project is said to combine social benefits with business benefits, because the financial products and services provided have the potential to be scaled up and delivered as part of Barclays' product portfolio
In Tanzania so far 1,800 groups have been formed benefiting over 43,000 individuals. As of December last year, these groups were tracking close to 2 million dollars in both savings and loans issued. Banking on Change has now exceeded its three year outreach and group formation targets. As of 31 March 2012, the programme had reached 435,181 individual members and facilitated the creation of 21,178 savings groups. The initial three year targets planned to form 18,322 savings groups and reach 383,963 individuals