NSSF Director of Operations, Mr Crescentius Magori
NSSF Director of Operations, Mr Crescentius Magori, said here that the loans are meant to spearhead development by giving individuals the opportunity to invest in viable projects geared to poverty alleviation and sustaining development.
Mr Magori said the Fund has registered more than 40,000 members since it started to integrate members from the informal sector in Kilimanjaro region.
The regional office started efforts to mobilize recruitments to bring in previously excluded sectors. However, they have to be in groups, such as primary co-operative societies, Savings and Credit Co-operative Societies (SACCOS) or Village Community Banks (VICOBA).
?NSSF continues to focus on improving the lives of more people, including those in the informal sector. We have already registered more than 40,000 members from that sector in Kilimanjaro region,? said Mr Magori.
Speaking at a function organized to launch a project aimed at improving Sustainable Village Community Banks (VICOBA) in Northern Zone, Mr Magori said more people are found in the informal sector.
He said it is estimated that more than 20 million adults are in the sector as opposed to just over two million with full employment in the formal sector.
He said NSSF was committed to seeing to it that the project was successful. Commenting on the VICOBA Project which NSSF will run in collaboration with Kilimanjaro Co-operative Bank Limited (KCBL), Mr Magori said it is based on a successful story that should be emulated by all who favour development.
Mr Adam Mavipya, who is the manager for Sustainable VICOBA in Kilimanjaro region said the project that started with 2,100 members in 2014, now has 3,330 members.
He said among them, are four children groups, saying that they came together as a way to create conducive environment in order to start making impact in business at young age.
Speaking at the occasion, the Registrar of Co-operatives, Dr Audax Rutabanzibwa, hailed the teamwork between NSSF, KCBL and VICOBA in running the project, likening it to a seed that would bear fruit to strengthen co-operative societies in the country.
Dr Rutabanzibwa guaranteed all stakeholders that the Co-operatives Commission and the government would offer sincere collaboration to promote the good work that the trio has established.
By DEUS NGOWI, Tanzania Daily News