In supplementing government efforts to ensure more youth are empowered, the Local Authorities Pensions Fund (LAPF) has introduced a loan scheme for new employees, especially the youth.
The LAPF Marketing and Communications Manager, James Mlowe made this observation at a press conference in Dar es Salaam on Thursday when announcing upcoming annual stakeholders’ conference to be held in Arusha next week.
He said a number of newly employed personnel fail to report to their respective working stations in rural areas due to lack of funds to start a living.
“To help the new employees serve the community anywhere in the country, LAPF has set aside Sh160m in loans to new recruits,” he said.
The programme dubbed ‘mkopo popote’ will be offering the loans through NMB Bank which will also be issuing surveyed plots to employees.
The manager also explained that the value of LAPF fund has risen to Sh1.9 trillion with about 160,000 members.
The fund collected Sh210bn last year out of which Sh88bn was repaid to beneficiaries and the remaining invested in various sectors.
LAPF Director of Services Valerian Mablangeti said the two day conference will be graced by the Minister of State in the President's Office (Regional Administration, Local Governments, Civil Service and Good Governance), George Simbachawene.
Issues to be discussed include discipline of using pension funds to better retirees’ lives, while other topics will be touching on health, he stated.
SOURCE: THE GUARDIAN
Very nice plan Warning Are you 18+
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