Neno Park Street Conventional Savings Loan and Investment [PACOSALI] has started giving out soft inputs and monetary loans to people in rural areas for investments.
PACOSALI Executive Director Jordan Maloya on Monday said that the idea is to uplift the economic life of hard to reach people where they are provided with businesses that suit their environments.
â€˜â€™We have noted a gap in the way microfinance companies are operating in the country they dictate to the client instead of understanding the clients needÂ and their environment,â€™â€™ saidÂ Maloya.
He argues that most people in rural areas are failing to boost their economic lives due to lack of understanding by loan films of peopleâ€™s actual problems and solutions.
Meanwhile mobility in Neno is a major challenge and this makes it difficult for people to develop.
They even fail to purchase building materials and connect themselves to the world hence, our approach,â€™â€™ he said.
PACOSALI is optimistic that giving out inputs such as iron sheets, farm inputs and a motorbike will be of significance since repayment will be easy as the items are of favorable outcome to the communities.
One beneficiary of a motorcycle, the family of Mr. Kondani thanked PACOSALI for the initiative saying it will help his family build their house with the money realized from motorbike tax business.
â€˜â€™In Neno Kabanza business is lucrative. This will enable me to transform my life than it was to be given money,â€™â€™ he said.
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