Africa-Press – Tanzania. ZANZIBAR government has increased the empowerment fund’s loan ceiling from 5m/- to 10m/- to provide entrepreneurs with sufficient capitals to operate their businesses.
Minister of State, President’s Office, Labour, Economy and Investment Mudrik Ramadhan Soraga told the House of Representatives here on Friday that entrepreneurs have already been notified of the increase and have started submitting applications for loans of over 5m/-.
Answering a question by Kiwani Representative Mussa Foum Mussa who sought to know the loan ceiling for entrepreneurs, the minister said as of April 30, 2021, ten groups with 617 members had received 87.4m/- in loans, with most of the credits classified as large loans of over 5m/-.
