24,000 youth to be provided with self-employment skills
Px01. Care International’s Resident Director, Ms. Prudence Masako, swaps documents with the President of the Project Management Institute (Tanzania chapter) , Mr Kheri Mbiro, after inking the Memorandum of Understanding (MoU) on equipping 24,000 youths with entrepreneurial skills and capital empowerment. The event took place in Dar es Salaam on Tuesday, August 28, 2024. PHOTO|COURTESY
What you need to know:
- The agreement signed in Dar es Salaam aims to instill skills and financial capabilities into 24,000 youths so they can undertake entrepreneurial projects through the CIT’s ‘Kijana Nahodha’ project.
Dar es Salaam. Lack of budgeting skills and inability to determine the specific timeframe for project growth have been described as barriers to entrepreneurs’ continued progress and self-employability.
The statement was issued on Tuesday, August 27, 2024, Project Management Institute (PMI) President Kheri Mbiro during the signing of an agreement between his institute and Care International Tanzania (CIT).
The agreement signed in Dar es Salaam aims to instill skills and financial capabilities into 24,000 youths so they can undertake entrepreneurial projects through the CIT’s ‘Kijana Nahodha’ project.
"Project management is essential for our lives; therefore, every individual is responsible for acquiring this skill. Even at home, we often fail to manage our projects because we lack the appropriate planning skills,” he said.
He noted that project capital, duration, venture sizes, and project knowledge were the other important factors to be paid attention to.
“Therefore, we have developed a guideline to help entrepreneurs with budget formulation and execution. We have provided them with templates that can even be used by small business owners, including food vendors," said Mr Mbiro.
According to him, before the agreement was signed, assessments were conducted in Dar es Salaam and Morogoro regions including Pemba, and Unguja.
"We have developed a project curriculum in Swahili to provide project management education to the youth," he said.
CIT Resident Director Prudence Masako said the beneficiary youth were selected to help address the country’s unemployment challenge.
"We are helping the youth to acquire self-employment skills by allowing them to choose government or private vocational institutions of their choice," she said.
Tanzania Commercial Bank (TCB)’s Planning and Strategy Manager, Mr Godfrey Mbilinyi, said the bank had been responsible for capital provision to the youth.
"We have been engaging different groups in the provision of financial services. Through this project, TCB will offer financial services. However, the system is in place to know the amount of loans required by individual projects," he said.
Px02. Care International’s Resident Director, Ms Prudence Masako, swaps documents with the Tanzania Commercial Bank (TCB) Senior Manager of Planning and Strategy, Mr Godfrey Mbilinyi, during the signing of the Memorandum of Understanding (MoU) on equipping 24,000 youths with entrepreneurial skills and financial empowerment. The event took place in Dar es Salaam. PHOTO|COURTESY
He said loans would be provided after the six months of conducting assessments and training for beneficiaries, adding that loan disbursement would range between Sh200,000 and Sh1 million, depending on the group.
"On top of loans, TCB will offer insurance services to group members. In case of members’ deaths, insurance benefits will be provided to family members as a gesture of support for the group,” he said.
According to him, the amount will be used to service the deceased member’s outstanding loan.
