130bn/- loans issued to special groups

DODOMA: A TOTAL of 130bn/- in loans with a 10 per cent interest rate, introduced to empower youth, women and persons with disabilities, has been disbursed since the resumption of the initiative in July 2024.

Minister for Finance, Ambassador Hamis Mussa Omary, revealed in Dodoma recently during the 39th graduation ceremony of the Institute of Rural Development Planning (IRDP) that the programme has so far helped many Tanzanians establish businesses and improve their lives.

His speech was read by the Deputy Minister for Finance, Mshamu Ali Munde.

He reminded stakeholders about the Public Procurement Act, which requires all public institutions to allocate 30 per cent of their procurement to special groups, including youth.

Omary stated that the government has continued to expand the higher education loan budget by allocating 916.7bn/- for 2025/26, up from 787.4bn/- in 2024/25, while the number of beneficiaries increased from 250,000 to 252,773.

He added that the government continues to provide full funding for higher education through the Samia Scholarship, encouraging youth to pursue science-related studies, with 2,630 students expected to benefit in the 2025/26 academic year.

He further noted that the government has created opportunities for school dropouts to return to education, with 22,844 girls having rejoined schools to continue their studies.

Omary emphasised that the government has also established youth-friendly environments for participation in sports, arts and culture, including the construction of sports fields across the country.

The government has pledged to build large arts halls to nurture young talent and has established a Cultural Fund, through which over 300 youth arts projects have received grants.

In the agriculture sector, he said 58 per cent of jobs are provided to youth, and their participation is further strengthened through the Building Better Tomorrow (BBT) programme.

Deputy Chairman of the Institute’s Board, Dr Samwel Werema, said graduates have been trained to be innovative and ethical, urging both public and private institutions to utilise their skills.

Earlier, the IRDP Principal, Professor Hozen Mayaya, explained that during this 39th graduation ceremony, a total of 5,721 graduates completed various courses. He said 2,594 of the graduates are men and 3,127 are women.

President Samia Suluhu Hassan announced the resumption of 10 per cent loans for groups of women, youth and persons with disabilities starting in July 2024.

Tabling his docket’s 2024/2025 revenue and expenditure estimates, the then Minister in the President’s Office–Regional Administration and Local Government (PO-RALG), Mr Mohamed Mchengerwa, said the government decided to resume the programme purposely to uplift the lives of poor Tanzanians.

After the resumption, the scheme was initially implemented through banks in 10 pilot councils, including Dar es Salaam and Dodoma cities, Kigoma Ujiji and Songea municipalities, the towns of Newala and Mbulu, and the districts of Siha, Nkasi, Itilima and Bumbuli.