Over 150 SMEs in Dodoma benefited from SIDO loans in 2019/2020

15Jul 2020
Polycarp Machira
The Guardian
Over 150 SMEs in Dodoma benefited from SIDO loans in 2019/2020

​​​​​​​THE Small Industries Development Organisation (SIDO) in Dodoma region has disbursed 281,500,000/- in empowerment fund to some 156 people in the region in the 2019/2020, it has been revealed.

At least some eight small and medium enterprises (SMEs) have also benefited from the funds released as loans to help youth, women and the disabled among others.

Speaking with this paper here yesterday, SIDO regional loan officer, Justine Kahemela noted that the beneficiaries were those who already had small and medium industries, engaged in agricultural activities, livestock keeping and other enterprises. He said at least 21 youth and women entrepreneurs received a total of 25,500,000/-.

He called on various SMEs in the region to tap the opportunity aimed at increasing industrial process in the region as outlined in the governments initiatives through the nationwide industrialisation plan.

“There are new opportunities for SMEs empowerment that the government has started, I therefore call upon those in Dodoma region to tap this and help move forward,” he said.

He explained that the government recently launched SMEs lending project dubbed, the “SANVN Viwanda Scheme” through which at least 1,385 direct employment opportunities will be employed.

Kahemela noted that operational manual for financing the SMEs in the industrial sector was launched late last week.

The National Social Security Fund (NSSF) is the project sponsor and other stakeholders are Azania Bank, SIDO and the Vocational Education and Training Authority (VETA) under the coordination of the National Economic Empowerment Council (NEEC).

According to Kahemela, provision of the loan is in line with President John Magufuli’s promise to steer the country towards industrial economy so as to help create jobs and bring development to people.

Speaking on the same, SIDO Dodoma regional Business Development Officer, Crispin Kapinga also called on entrepreneurs in the region to closely work with SIDO, noting there are a lot of opportunities such as trainings and others offered there.

“I appeal to SMEs in Dodoma to tap the opportunities brought by SIDO and other stakeholders because they are aimed at strengthening regional economy,” he said.

SIDO Regional Manager, Sempeho Manongi on his part said his office will continue cooperating with regional residents to help them identify available opportunities that can enable them benefit both local in and international markets. 

Top Stories