The Ilala District Commissioner, Edward Mpogolo, has commended CRDB Bank Foundation for successfully facilitating the provision of loans equivalent to 10 per cent of local government revenues through an inclusive model targeting youth, women and persons with disabilities in Dar es Salaam, amounting to 2.9bn/- to date

Mpogolo made the remarks at a weekend ceremony where 11 motorcycles, valued at a total of 44m/-, were handed over to two groups—Titanic Bodaboda The Posh and Bodaboda Kisgo. 

The motorcycles came with comprehensive insurance cover and were fitted with digital tracking systems.

“As you receive these motorcycles, there are others who are manufacturing chairs, tables and other furniture after receiving 150m/-. Another group of five young people was granted 700m/-, which has now grown to a value of more than 850m/-. All these achievements stem from the government’s commitment to empower youth determined to transform their economic future,” said Mpogolo.

The District Commissioner also used the occasion to educate beneficiaries, emphasising the importance of following proper procedures whenever applying for these government-backed loans, which, if adhered to, make access much easier.

“For drivers, it is crucial to hold valid licences and other necessary permits. Your vehicle must have comprehensive insurance to protect you against any risk, and it should be fitted with digital tracking systems so that, in the event of theft, it is easy to trace the direction taken by the culprit. Law enforcement officers can then apprehend them without difficulty. By doing this, we will safeguard our capital and grow our enterprises,” reminded the District Commissioner.

For her part, the Chief Executive Officer of CRDB Bank Foundation, Tully Mwambapa, thanked President Samia Suluhu Hassan for trusting financial institutions to oversee the distribution of these loans to citizens, including CRDB Bank Foundation, which serves Dar es Salaam—one of the ten pilot regions under the inclusive model.

“With great humility, I extend my sincere gratitude to President Samia for enabling the disbursement of these 10 per cent loans to Tanzanians. I also thank the Minister of State in the President’s Office (Regional Administration and Local Government), Mohamed Mchengerwa, for trusting CRDB Bank Foundation as one of the service providers of these inclusive loans for citizens in the pilot councils,” said Tully.

Since the beginning of this year, when the programme was launched in collaboration with local government officials, Tully said they have visited and received applications from more than 120 groups of women, youth and persons with disabilities across different wards in the city, all of whom continue to benefit from the loans.

During visits made by CRDB Bank Foundation experts to beneficiary groups, entrepreneurship and financial literacy training is provided before the affordable loans are issued.

“These joint efforts have made it possible for more entrepreneurs to benefit from this investment. CRDB Bank Foundation is implementing this inclusive loan programme with excellence and efficiency, and has already integrated its systems with the government’s Wezesha platform,” added Mwambapa.