EFFORTS to empower citizens economically was on top gear as the National Economic Empowerment Council (NEEC) said loans amounting to 5.6tri/- were issued during the last year.
NEEC Executive Secretary Ms Beng’i Issa said 9.8 million Tanzanians benefitted from the loans for improving their socio-economic activities.
“Out of the total beneficiaries, 53 per cent are women. But, people should not run for the loans if they do not have dire need and strategic plan on how to spend the money,” she cautioned.
Speaking to reporters here yesterday, she said, the government also launched a lending scheme dubbed as “SANVN Viwanda Scheme” whereas National Social Security Fund (NSSF) has injected 5.3bn/-into Small and Medium Entrepreneurs (SMEs).
The project intended to create jobs for women and youth through financing the SMEs in the industrial sector.
Other stakeholders of the SANVN are Azania Bank, Small Industries Development Organisation (SIDO) and Vocational Education and Training Authority(VETA) under the coordination of NEEC.
“Ms Issa called on youth and women to form groups so that they benefit from the project to utilize it by investing in productive areas as per their project write-ups to boost their businesses,” she noted.
She said government had decided to come up with the project to empower the SMEs after realising that they lacked business skills, capital and markets.
“We want the project to give fresh impetus to the industrial economyfor improved standards of living and economic growth,” said theNEECExecutive Secretary.
NEEC Executive Secretary Issa said they have come up with theproject after it was clear that many SMEs could not access loans andthus failed to add value to their products.
With the project VETA and SIDO have been tasked to train andscrutinise write-ups and submit a shortlisted of applicants to AzaniaBank for endorsement and the issuance of loans.
NEEC promised to keep on coordinating the empowermentfunds which so far they are almost 72 credit facilities countrywide.
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