AfricaPress-Tanzania: SMALL Industries Development Organisation (SIDO) has released 281.5m/- as loans to 156 residents of Dodoma region purposely to boost their economic activities in the 2019/2020 financial year.
The loans have benefited small scale entrepreneurs largely women and youth who engage in income generating activities in industrial and agricultural sectors.
Speaking to journalists, Loans Officer for Dodoma Region, Mr Justine Kahemela urged entrepreneurs in Dodoma to seek more loans that will enable them to improve their businesses.
Mr Kahemela pointed out that the programme is being coordinated by five institutions namely SIDO, Vocational Education and Training Authority (VETA), Azania Bank, National Economic Empowerment Council (NEEC) and the National Social Security Fund (NSSF).
He said the programme to issue the loans is part of the goals set by fifth phase government under President John Magufuli that is determined to support industrial economy.
“Statistics show that our loans have improved projects and provided over 128 employment opportunities to the youth,” he said.
Mr Kahemela advised residents of Dodoma to continue using services offered by SIDO including training in industry and technology as well as financial affairs.
“I advise entrepreneurs to consult experts from financial institutions before setting up any business,” he said.
Commenting, Ms Eva Lebby Minde, one of the loans beneficiaries, expressed gratitude to SIDO for the loans programme, noting that the organisation has become great liberator for the entrepreneurs without business capital.
“We are thankful to SIDO for supporting us in terms of business capital through loans to improve productivity,” she said.
Dodoma Regional Business Development Officer, Mr Crispin Kapinga, invited more business operators to SIDO in order to understand business opportunities, noting that the residents should make use of the business opportunities.
On his part, Dodoma Regional Manager for SIDO, Mr Sempeho Manongi, said they will still mobilize Dodoma residents to grab business opportunities within the area.
