From The Citizen Daily, Dar es Salaam
By Jane Kajoki, Mwanza
Savings and Credit Cooperative Societies (Saccos) in Mwanza are yet to repay a total of Sh200-million loan, issued by the government through its citizens’ economic empowerment initiative, it has been learnt.
The loans, popularly known as ‘JK billions’, saw in its second phase, 12 Mwanza-based Saccos in Misungwi and Kwimba districts receiving a total of Sh227 million, but until yesterday, only Sh15 million has been repaid.
The loans, which were disbursed in September last year as part of the initiative during the 2009/2010 financial year, were supposed to have been re-paid within six months.
Speaking to journalists in Mwanza yesterday, the Savings and Credit Co-operatives Union League (Sccult) manager for Mwanza Region, Mr Mathias Malagu, said attributed the difficulties in repaying the loans to mind set of and poor understandings by the people.
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