Source:TanzaniaDailyNews
Moshi — Women entrepreneurs in Moshi Municipality have urged the government to initiate a bank that would help small businesspersons access credit.

The women spoke here at Bomambuzi Ward during launching of Neendiwe Group that brings together small women entrepreneurs.

Secretary to the Neendiwe Group, Ms Rehema Wesu, said it was difficult to access credit from commercial banks due to high interest rates as well as complicated procedures in application of the same.

"Many financial institutions, including commercial banks are tainted with unnecessary bureaucracy, high interest rates that make many small entrepreneurs fail to access credit," said Ms Wesu.

At the meeting held at Mzalendo Primary School, she said interest rates and bureaucracy have been huge obstacles to groups as well as individuals who would have otherwise accessed loans, boost business and achieve their targets.

She said there are many individuals and group members who lack experience on how to get loans and asked the government to use different stakeholders to raise awareness.

Another member, Ms Faidha Mohammed said if stakeholders joined hands with small entrepreneurs, the move would boost productivity and efficiency for individuals as well as country's development.

Neendiwe Group Guardian, Mr Juma Rahibu urged members to be proactive in business and seeking loans, but should be careful before applying for any loan.

Mr Rahibu said they should cultivate a culture of buying and selling goods to each other, instead of procuring out of the group, district or region while their fellow traders sell the same.

He said by doing business among themselves, they would make their coffers hefty and gradually do away with poverty.

Kilimanjaro Regional Commissioner, Mr Leonidas Gama, recently urged small entrepreneurs to join Village Community Banks (Vicoba) as a way to access loans and thrive in business.

Moshi Co-operative University (MoCU) Vice Chancellor, Professor Faustine Bee announced last week the introduction of several courses that cover many aspects of co-operatives, Vicobas and such institutions. The varsity has also established courses on gender development.

• Tanzania