Kwimba youths turn council loans into jobs

MWANZA: YOUTHS in Kwimba District, Mwanza Region, have been urged to take advantage of interest-free loans provided by the district council to expand their businesses, create jobs and contribute to economic growth.

The Uhuru Torch leader, Wazo Mwang’onda, made the call yesterday when he launched the Vijana Boda Boda Sumve group at Sumve Bus stand.

Mr Mwang’onda encouraged young people to maintain peace, work diligently and make productive use of available economic opportunities, including council loans.

The group’s Secretary, Damas Michael, said the 10-member association was formed after council experts’ educated young people about interest-free loans funded through 10 per cent of the council’s domestic revenue.

Before applying for the loan, the group had raised 10m/- through various activities and projects undertaken by its members.

“On March this year, we received a loan of 42m/- from the council, which we used to purchase motorcycles and pay for insurance and licences for group members,” Mr Michael said.

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He said the investment had strengthened the group’s operations and enabled its members to pursue self-employment in the passenger transport sector.

He said the group has already begun repaying the loan, with members paying 7m/– during the second repayment phase.

Mr Michael said the project had improved members’ livelihoods by generating income from passenger transport while also expanding employment opportunities and strengthening their business management skills.

Further, he said the benefits had extended beyond motorcycle transport, with members using income generated from the project to invest in other private businesses.

“This loan has also enabled us to expand our private business activities into other areas, including establishing retail shops,” he said.

The experience of the Vijana Boda Boda Sumve group highlights how affordable financing can help young people move from informal economic activities to more structured businesses, while creating income and employment opportunities within their communities.