Mwanza city to disburse 1bn/- loans to special groups

MWANZA: MWANZA City Council is set to roll out long-awaited loans to women, youths and people with disabilities, following the successful completion of the loan qualification process, bringing relief and opportunity a step closer for eligible groups.

The Mwanza City Coordinator for the Women, Youths and People with Disabilities Development Fund, Ms Zena Kapama, said yesterday that a total 24 groups have qualified for loans amounting to 1.0bn/-.

Ms Kapama said during a loan training seminar for beneficiary groups held in Mwanza that the groups have been invited to sign formal agreements ahead of the disbursement of the funds.

She said the loan disbarment process requires each group to complete and sign an official loan agreement to ensure accountability in repayment.

“The Mwanza City Council has approved a total of 1.0bn/- to be issued as loans to 24 groups comprising 100 beneficiaries who met the required criteria,” she said.

She added among the groups, nine women’s groups received 428m/-, while nine youth groups received 68m/-.

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She said that the groups to receive the loans are engaged in various economic activities, including fish farming using cages, tailoring, buying and selling cow hides, agriculture, running household goods shops, poultry farming and passenger transportation using three-wheeled motorcycles (bajaj).

She added that it is important for group members to know and recognise each other, have a constitution and engage in lawful economic activities even if they differ.

The Nyamagana District Commissioner in Mwanza Region, Ms Amina Makilagi, urged the beneficiaries to ensure that the loans are used for the intended projects so that they can bring personal and community benefits.