NSSF now to give capital loans

Dodoma. The National Social Security Fund (NSSF) now plans to start a special programme that will enable youth groups to secure loans that they can use as capital to start up a business and thus overcome poverty and joblessness in the country.

This was revealed by NSSF Dodoma regional manager Nyabuyenze Kirondera, who said the programme -- expected to commence later in the year -- will take into consideration business proposals put forward by youth graduating from different universities.

He said the idea of offering the loans emerged during the NSSF Annual General Meeting held earlier this month in Arusha, and that the youth will have to form teams and draw up sound business ideas so as to stand a chance to secure the loan facility.

He said to start with, the crucial project will be dishing-out between Sh50 million to Sh1 billion to each well organised team,” he detailed.

“Most of the youth graduating from various high learning institutions in the country have been facing unemployment thus they remain wandering about in the streets which is a great loss of the otherwise useful human resource to the country,” he said.

Mr Kirondera said here recently when addressing the students expecting to graduate later this year in the region.

“I’m only appealing to all youth who graduate from different universities in the country and who wish to access the loans to form their teams and draw up viable business plans,” he insisted, adding that the groups will have to be registered with the district commissioners’ offices in their respective regions. Giving more details, he said the groups could focus on agriculture, business or fishing as well as many other economic activities.

For his part, Kisereli Resources Network Foundation (RNF) general manager Ombeni Msuya, said his organisation was working hard to shape the students in readiness for the loans, including imparting them with sound business skills.