Kinondoni offers 2.5bn/- loans to special groups

KINONDONI Municipal Council has dished out 2.5bn/- interest-free loans to 115 groups of women, youth and people with disabilities to boost their economic status.

The Kinondoni District Commissioner, Mr Saad Mtambule, said over the weekend during the loan disbursement ceremony that the loan beneficiaries should make good use of the loans provided.

“The municipality has fulfilled its legal responsibility by providing interest-free loans to you, so it is your responsibility to use these loans properly so that you can make profit, grow the economy and create jobs,” he said.

The beneficiaries were eleven groups from disabled who earned 297m/-, 73 women groups pocketed 1.2bn/- and 31 youth groups got 1.0bn/-.

Mr Mtambule hailed the Kinondoni Municipality for providing 10 per cent loans to the three categories from its sources as required by the law.

The Director of Kinondoni Municipality, Ms Hanifa Hamza, told the DC that the loans are for the first and second quarters of their fiscal year that starts in July adding that the council will continue to support the communities to be able to boost the economy.

“The council will continue to enable the community to fully participate in self-development activities to achieve the community’s desire to get out of its economic hardship,” She added.

She explained that the district is continuing with efforts to motivate the community to form groups and register them to be able to get interest-free loans.

Deputy Mayor, Mr Josephat Rwegasira, urged the groups to not disappear after getting loans.

“There are active groups, once they get loans they disappear. This behaviour should be stopped,” said Mr Rwegasira.

On his part, the Councillor of Kunduchi Ward, Mr Michael Urio, said there were some people who were using women and youth to form groups to access zero-interest loans.