Mafinga empowers youth through loan training

IRINGA: MAFINGA Town Council has trained 19 young people from Iringa Region on accessing government backed loans for livestock and fisheries businesses in a programme aimed at boosting youth economic empowerment.

The training was conducted in collaboration with experts from the Ministry of Livestock and Fisheries.

A trainer from the ministry, Dr Vayan Laizer, said the programme was designed to equip young people with financial literacy and loan management skills to help them improve their livelihoods and expand their businesses.

He urged the beneficiaries to use the loans responsibly and ensure timely repayment in order to build trust with financial institutions and increase their chances of accessing larger loans in the future.

Mafinga Member of Parliament Dickson Lutevelle Villa also called on the youth to remain honest, work together in their business ventures and honour their repayment obligations.

“Challenges should not make you fail to repay loans. The first miracle is being trustworthy. When the government or a bank trusts you, you must protect that trust and create more opportunities to borrow and grow,” he said.

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Mafinga Town Council Director, Fidelica Myovella encouraged the participants to apply the knowledge gained during the training to manage loans effectively and strengthen their livestock and fisheries enterprises.

She said proper use of the loans would help the youth build sustainable businesses and improve household incomes.

The loan initiative is being implemented by the Ministry of Livestock and Fisheries in collaboration with the President’s Office for Youth Development, the Prime Minister’s Office responsible for Regional Administration and Local Government (PORALG) and the Tanzania Agricultural Development Bank (TADB).

The programme seeks to expand economic opportunities for young people, support entrepreneurship in livestock and fisheries and contribute to local economic growth.