Mhagama reveals NEEC success story for entrepreneurs

22Oct 2019
The Guardian
Mhagama reveals NEEC success story for entrepreneurs

THE Minister of State in the Prime Minister’s Office (Policy, Parliamentary Affairs, Labour, Employment, Youth and the Disabled) Jenista Mhagama has said 1,237,984 entrepreneurs have benefitted from loans for capital issued by various financial empowerment institutions in the economic empowerment-

-programme for the wananchi. 

Mnagama said this at the weekend during the climax of the Economic Empowerment Exhibition organized by the National Economic Empowerment Council (NEEC) in partnership with various financial institutions at Bariadi Municipal Council grounds.

The minister said since the establishment of the National Economic Empowerment Council (NEEC) a total of sh 388.4b/- has been paid out from the instgitutions as loans to assist entrepreneurs and Tanzanians in general to increase their incomes and value to their products.

She added for the Council to increase the volume of loans for capital to the wananchi the loan funds to widen their lending capacity and move their services in districts and villages where many wananchi need them.

She also called on these institutions to continue issuing low interest loans as opposed to other financial institutions and urged the wananchi to repay the loans in time so that other people benefit.

The NEEC Executive Secretary Beng'I Issa explained that for three years in a row the Council has been monitoring the entrepreneurs’ exhibitions through zonal financial institutions so as to connect them to the current opportunities in the market.

Issa said apart from that, the Council through the financial institutions has been able to help entrepreneurs to enhance their understanding on the conditions for accessing to loans as well as investing in profitable projects.

On their part some of the entrepreneurs who benefitted from the loans – Mary Joseph and Happy Msuya thanked the government and the financial institutions for loans that are now helping then in their businesses.