Hundreds of youthful members of a trade union of taxi and moto operators in the Eastern Province have been offered the opportunity to acquire brand new motorcycles, thanks to a loan facility from Letshego-Rwanda, a micro-finance institution.

Eighty of the youths this week received the motorcycles at a combined cost of Rwf90 million (Rwf1,125,000 each), after their union, UNESCOM, successfully submitted a project proposal to the financial institution, leading to the signing of a memorandum of understanding.

The beneficiaries will service the loan with a 20 per cent interest, through monthly payments of between Rwf85,000 and Rwf90,000.

UNESCOM boasts of 6,000 members, grouped in 45 cooperatives that operate all across the province. 

The union serves as the guarantor.

The scheme seeks to cater for applicants aged between 25 and 35 years.

The project is geared at improving the state of the taxi-moto business, especially in rural settings, those behind it said.

Dieudonne Nteziyaremye, the chairperson of the union, said the motorcycles were trendy.

"Those who will service their loans according to the terms will stand a chance of qualifying for another loan, which they can use to buy another motorbike or even a vehicle. It is a golden opportunity,” Nteziryayo told the first batch of beneficiaries on Tuesday.

The beneficiaries are expected to clear their loans in two years.

Selman Ndaruhutse, one of the beneficiaries from Gatsibo District, said: "As youths, we are motivated to work harder. The motorbikes will boost  our business tremendously,” he said.

"I have used my savings to build myself a house and this motorcycle will transform my business.”

Gerald Muzungu, the mayor of Kirehe District, commended UNESCOM for the initiative, which, he said, resonates with the country’s development agenda.

Such efforts are significant with regards to the government’s ambition to create at least 200,000 off-farm jobs annually, he added.