The Municipal Director of Kibaha, Dr. Rogers Shemwelekwa, has pledged immediate support to small-scale entrepreneurs struggling with high borrowing costs, after holding direct consultations with traders in Mkuza and Kongowe wards.
Dr. Shemwelekwa, who was accompanied by heads of divisions and units from the council, met roadside traders to listen to their concerns and chart out practical solutions aimed at ensuring sustainable growth of their businesses.
The traders pointed to lack of reliable capital as their main challenge, saying many of them are forced to turn to informal lenders who charge exorbitant interest rates, popularly known as “loan sharks.”
They explained that such loans often cripple their businesses instead of helping them grow.
Responding to the concerns, Dr. Shemwelekwa assured the entrepreneurs that Kibaha Municipal Council has set aside over Sh1 billion to provide interest-free loans to small businesses.
“I encourage you to form groups of at least five members so you can access these funds. The money is available, and our aim is to see your businesses grow and prosper,” he said.
He further announced that beginning tomorrow, community development officers will start preparing the traders to complete the required procedures so that they can receive the loans within two weeks.
The entrepreneurs hailed the initiative, describing Dr. Shemwelekwa’s intervention as timely and practical. They praised him for acting swiftly to ease their financial burden, calling him a true champion of small traders in the municipality.