IDYDC SACCOS & Microcredit was established by the Iringa Development of Youth, Disabled, and Children Care (IDYDC) organization in 1999  to address the pressing needs of families who are taking care of street children and orphans. Recognizing that poverty and the inability to meet basic needs were driving children away from their homes, IDYDC created the SACCOS program to provide financial support and empowerment.

Today IDYDC SACCOS & Microcredit is a vital component of IDYDC’s mission to improve the lives of vulnerable populations in Iringa. The program provides essential financial services, including loans and savings, to a wide range of beneficiaries, including general population, disadvantaged groups, and youth entrepreneurs. IDYDC SACCOS & Microcredit is a valuable resource for vulnerable families in Iringa, providing them with the tools and support they need to achieve financial independence and improve their lives.

Key Objectives:

• Financial Inclusion: To provide vulnerable families in Iringa with access to financial services, including loans and savings.
• Poverty Reduction: To help families overcome poverty by providing them with the resources to start or expand their businesses.
• economic Empowerment: To strengthen families by involving them in joint business ventures and promoting financial literacy.

Key Services:

• Microcredit Loans: IDYDC SACCOS & Microcredit offers microcredit loans to individuals and groups, providing them with the financial resources needed to start or expand businesses.
• Savings Accounts: Members can save their money with IDYDC SACCOS & Microcredit, building a financial cushion for future needs.
• Training and Support: The program provides comprehensive training and support to members, covering topics such as digital offline and digital online financial management, business planning, entrepreneurship

Impact on Beneficiaries: IDYDC SACCOS & Microcredit has had a significant impact on the lives of many people in Iringa. By providing access to financial services, training, and support, the program has helped beneficiaries to:

• Start and grow businesses: Many individuals and groups have been able to establish or expand their businesses, creating income and improving their livelihoods.
• Reduce poverty: By providing financial resources, IDYDC SACCOS & Microcredit has helped to alleviate poverty and improve living standards.
• Empower disadvantaged groups: The program has been particularly effective in empowering disadvantaged groups, such as women, youth, and people with disabilities.
• Promote financial inclusion: IDYDC SACCOS & Microcredit has played a key role in promoting financial inclusion, ensuring that everyone has access to the financial services they need.

IDYDC SACCOS & Microcredit plays a vital role in supporting the financial aspirations of beneficiaries graduating from various IDYDC interventions, programs, and implemented projects. By providing access to loans and savings services, IDYDC SACCOS & Microcredit empowers graduates to start their own businesses or expand existing ventures. These financial resources can be used to purchase equipment, invest in inventory, hire staff, or cover other business expenses. Additionally, the program offers financial literacy training to ensure that beneficiaries have the knowledge and skills necessary to manage their finances effectively and make sound business decisions.

Start-Up Grants for Project Beneficiaries: IDYDC SACCOS & Microcredit offers merit-based start-up grants to various project beneficiaries, including youth who are involved in IDYDC’s programs. These grants provide essential financial resources to help young entrepreneurs launch and grow their businesses. The selection process for grants is rigorous, ensuring that the funds are allocated to projects with the greatest potential for success.

Financial Inclusion for Youth and disadvantaged: IDYDC SACCOS & Microcredit is committed to financial inclusion for young people in Iringa. The organization has implemented a dedicated scheme for youth entrepreneurs that provides access to financial services, including loans and savings. This scheme is designed to meet the specific needs of young entrepreneurs and to encourage their participation in the formal financial sector. By providing start-up grants and promoting financial inclusion, IDYDC SACCOS & Microcredit is helping to create a more favorable environment for youth entrepreneurship in Iringa. This, in turn, contributes to economic growth, job creation, and poverty reduction.