COAST PROVIDES BILL 2.1 / – 10 PERMANENT LOANS

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AfricaPress-Tanzania: The Coast Region in the financial year 2020/2021 has provided Sh 2.1 billion which is 10 percent of the revenue of nine councils in the region where as of February this year the refunds collected are Sh 1.7 billion equivalent to 78.5 percent of the planned funds disbursed in the period that.

This was stated in Kibaha by the Coast Regional Commissioner, Evarist Ndikilo during the handover of cash loans and equipment to entrepreneurs through (Local Government Finance Act, 2019) and is an implementation of the Party’s Election Manifesto. Revolution 2020-2025.

Ndikilo said that the funds disbursed to the groups up to February 2021 are Sh 1.1 billion equivalent to 66.9 percent where the state of issuing such loans and repayments in the region in 2019/2020 the total amount of shillings was disbursed is Sh 2.6 billion.

“Last year the funds were disbursed to 672 groups equivalent to 108 percent of the planned disbursements and repayments were Shs 645.7 million equivalent to 54% of the funds borrowed for the period through 10 percent of the local revenue of these councils in our region,” said Ndikilo. .

Handing over money and equipment worth Shs. 245.8 through loans which is 10% of the revenue of Kibaha Town Council for youth, women and people with disabilities, Shs 177.7 million and the donated materials are 12 motorcycles, one bajaji, one toyo and one soap making machine for 68 groups of entrepreneurs.

For her part, the Director of Kibaha Town Council, Jenifa Omolo said that one of the successes they have achieved is building a business center in the Mnarani market known as Loliondo where entrepreneurs get a place to sell their products in one place.

Omolo urged women entrepreneurs to use the entrepreneurial building built in Mnarani market which was built by the Council but is not used as planned and one of the obstacles they face in lending is a group of young people and people with disabilities not using credit properly which causes delays in repayment.

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