CRDB Foundation dishes out 2.9bn/- to empower special groups in Dar

DAR ES SALAAM: CRDB Bank Foundation has disbursed inclusive loans worth 2.9bn/- in Dar es Salaam, supporting youth, women and persons with disabilities through council-driven financing.

The initiative, implemented under the government’s 10 per cent internal revenue allocation programme, has already financed more than 120 community groups, providing capital, entrepreneurship training and financial literacy.

The Ilala District Commissioner, Mr Edward Mpogolo, said at a weekend ceremony where 11 motorcycles, valued at 44m/-, were handed over to two groups–Titanic Bodaboda and the Posh and Bodaboda Kisgo that the motorcycles came with comprehensive insurance and were fitted with tracking systems.

“These efforts are made possible through the government’s initiative to empower young people with a mindset of self-reliance. I commend CRDB Bank Foundation for facilitating these inclusive loans,” said Mr Mpogolo.

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Also, while the two groups receiving motorcycles, some of their peers are producing furniture after getting 150m/- and another group of five young people received 700m/-.

The District Commissioner also took the opportunity to educate beneficiaries, saying the importance of following proper procedures when applying for these government-sourced loans, which he noted are straightforward when guidelines are adhered to.

“Motorcycle riders, it is important to have a license and other necessary permits,” The DC said.

CRDB Bank Foundation Managing Director, Tully Mwambapa, thanked the government for entrusting the institution with overseeing loan disbursements under the inclusive programme, with Dar es Salaam among the ten pilot regions.

“These motorcycles we are handing over today would not have been possible without the vision of our [government] leaders,” said Ms Mwambapa.

Since the start of this year, when the programme was launched in collaboration with council officials, more than 120 groups of women, youth and persons with disabilities from various city wards have continued to benefit from the loans.

“These collective efforts have ensured that more entrepreneurs benefit from this programme and we have already integrated our systems with the government’s Wezesha platform,” Ms Mwambapa said.