3,967 entrepreneurs apply for financial support for their businesses

DAR ES SALAAM: THE CRDB Bank Foundation has announced that it has received a total of 3,967 applications from young entrepreneurs who applied for support through its Go Green and IMBEJU programs, which were launched on the 12th of last month.

The announcement was made by the Foundation’s Managing Director, Tully Esther Mwambapa, while closing the application window. She explained that the next step is to conduct a technical evaluation focusing on the innovation of the business idea, project sustainability, the business’s ability to operate independently, and its contribution to environmental conservation.

“This process will be completed within one week. The third stage will involve verifying existing businesses to ensure they match their submissions. This exercise will take approximately three weeks, as all businesses will be visited to confirm their authenticity before announcing those that qualify for financial support ranging from 500,000 to 500m/-,” said Ms Mwambapa.

The evaluation of the applications will be carried out by a panel of experts from the CRDB Bank Foundation, CRDB Bank, the National Commission for Science and Technology (COSTECH), the ICT Commission (ICTC), and the Ministry of Youth Development, along with the Vice President’s Office responsible for Environment.

ALSO READ: Bunge Committee backs TISEZA to run Buzwagi SEZ

Through the Go Green and IMBEJU programs, the CRDB Bank Foundation aims to empower youth who own startups, entrepreneurs, and small business operators, including those whose businesses are not formally registered, as well as university students with business ideas that can be developed into real enterprises.

A key requirement for all three groups is having innovative ideas or businesses aligned with the green economy, such as climate-resilient agriculture, fishing, the use of clean and renewable energy, water and irrigation technologies, waste and environmental management, as well as digital innovations that support environmental protection and improve productivity.

University students who submitted ideas with commercialization potential will receive between 500,000 and 10m/- to help implement them and contribute to solving challenges in society.