Bukoba District disburses 478.6m/- empowerment loans to youths, women

BUKOBA: THE Bukoba District Council has disbursed 478.6m/- in empowerment loans to 60 youths, women and other marginalised groups to stimulate economic growth and create self-employment opportunities.

Speaking recently, Bukoba District Executive Director (DED), Ms Fatina Laay, urged beneficiaries of the 10 per cent empowerment loans to use the funds effectively to improve their economic wellbeing.

She said the government will continue strengthening oversight of the loans to ensure they achieve their intended objective of enabling beneficiaries to engage in self-employment, increase their incomes and contribute to national economic growth.

Ms Laay said the empowerment loans form part of the government’s broader economic development strategy under President Samia Suluhu Hassan, which prioritises inclusive growth and entrepreneurship as key tools for reducing unemployment and poverty.

“The initiative aligns with Tanzania’s Development Vision 2050, which seeks to transform the country into a middleincome, semi-industrialised economy. Financial inclusion programmes are crucial in addressing challenges within Tanzania’s informal sector, which accounts for an estimated 60 per cent of the country’s GDP,” she said.

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She added that by formalising small enterprises and expanding access to capital for underserved groups, the government aims to broaden the tax base while reducing economic disparities.

Ms Laay noted that on February 5 this year, the government launched a 200bn/- empowerment fund targeting youths and women, one of President Samia’s flagship commitments. The fund supports women and young people engaged in agriculture, fisheries, arts, start-ups and other productive sectors.

According to the Deputy Minister in the Prime Minister’s Office responsible for Regional Administration and Local Government (PMO-RALG), Dr Festo Dugange, the government disbursed 118.03bn/- to 8,165 youth groups comprising 44,754 members nationwide between July 2024 and February 2026.

He said the initiative reflects the government’s commitment to expanding financial inclusion and supporting income-generating activities among young people and women across the country.