More than 480 Morogoro based small scale entrepreneurs have benefited from 50m/- in microfinance funding issued by INUKA, a non governmental organisation.
Speaking at the hand over of the loans to eighteen Mji mpya ward entrepreneurs, INUKA Director David Msuya said the loans were granted between January, last year and July this year.
INUKA director argued that his organisation decided to provide loans to small scale businesspersons after it discovered that small entrepreneurs have dreams to do business but they face capital problems and doo not know where to get it.
According to INUKA’s house to house research done in some parts of Morogoro Region, it discovered that most people especially women who have chosen small business as their way of earning a living are hamstrung due to lack of capital, explained Msuya.
He said it was then that he discovered that there was a need to influence the way small scale entrepreneurs’ groupings do business by enabling them realise their dreams.
Through those groups members were able to apply and get loans, he said.
Among the beneficiaries were from Ruaha and Gairo in Kilosa District, Wami Dakawa in Mvomero District, Mbuyuni and Kihonda in Morogoro Municipality and Ifakara in Kilombero District.
He said his organisation is proud of the achievements made by the organisation in lifting entrepreneurs from a low stage to an improved stage of life arguing that INUKA’s intention is to cover the whole region.
For her part, one among the beneficiaries of the loans, Fatuma Omar congratulated the NGO’s initiative, saying she now owns a kiosk.