SIDO disburses 91.5m/- in loans in Dodoma

Mariam Said and Sauli Giliard3 weeks ago

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DODOMA: THE Small Industries Development Organisation (SIDO) in Dodoma Region has disbursed 20 loans worth 91.5m/- during the first 100 days of President Samia Suluhu Hassan’s second term in office, targeting key sectors including agriculture, industry and trade.

Speaking in Dodoma over the weekend, Acting SIDO Dodoma Regional Manager Crispin Kapinga said the loans were issued to entrepreneurs across various sectors, with beneficiaries comprising five youths, nine women and six people from other groups.

He said the loans aim to enable beneficiaries to start and expand their businesses, generate income and create employment opportunities for Tanzanians.

Mr Kapinga also advised citizens planning to venture into business to seek expert guidance to ensure their projects are sustainable and profitable.

Meanwhile, SIDO Senior Financial Management Officer Justine Kahemela said the provision of loan services is part of the implementation of the sixth phase government’s commitments under the leadership of President Samia Suluhu Hassan.

He explained that the initiative seeks to improve citizens’ access to financial services and capital to help them establish and grow their businesses.

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“Our data show that loans provided by SIDO have expanded beneficiaries’ projects, created direct formal employment, increased incomes and helped entrepreneurs meet basic needs such as educating their children, ultimately reducing poverty,” he said.

Mr Kahemela urged residents of Dodoma Region and the country at large to continue utilising SIDO services, including expert support in technology, business development training, marketing and financial management. He echoed Mr Kapinga’s advice, encouraging entrepreneurs to consult relevant institutions before starting any business or project.

“This will help them avoid losses that may arise during the formalisation process, as they would have addressed key requirements from the outset by consulting SIDO experts,” he said.