Sumbawanga dishes out 137m/- loans to youths, women

Sumbawanga dishes out 137m/- loans to youths, women

SUMBAWANGA Municipal Council (SMC) in Rukwa has provided 136.98 m/- interest-free loans offered to women, youths and people with disabilities to empower them economically.

Sumbawanga Municipal Director Mr Jacob Mtalitinya said during the full council meet recently the zero interest loans were provided to the groups between July and December last year.

“The loans included funds set aside in 2021/22 budget as well as the repayment of loans that have entered the lending cycle,” Mr Mtalitinya said.

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He further explained among the beneficiaries of the interest – free loan are bodaboda Saccos and  Bajaj Saccos who received  91.78m/-.

Mr Mtalitinya advised beneficiaries to focus on their ideas and conduct profitable businesses to be able to repay them and in addition to increase their income thus improving their living standards.

“It is not a grant. It is a loan meant for borrowers to achieve the best results and repay,” he emphasised.

The free- interest loan is 10 per cent of the SMC earning from its domestic revenue collections.

The loan is in line with the directives issued by the Ministry of State in the President’s Office (Regional Administration and Local Government) for councils countrywide to set aside 10 per cent of revenue collections for loans to youths, women and PLWDs.

The SMC Mayor Mr Justine Malisawa challenged the youth to utilise opportunities and apply for loans and use them in productive means to earn more and have better life.

Additionally, he thanked councillors and experts in the municipal council for cooperation to ensure the issuance of 10 per cent from its own sources as directed by the government.

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