SELF Microfinance unveils clean energy loan product

DODOMA:  In a move aligned with the government’s agenda to promote clean and sustainable energy use, the Self Microfinance Fund (SELF MF) has introduced a new loan product tailored for entrepreneurs engaged in clean and alternative energy ventures.

The Fund’s Central Zone Manager for Dodoma and Singida, Mr Aristid Tesha, made the announcement, noting that the facility targets businesses involved in the distribution of gas and related energy equipment.

“This initiative is designed to support national efforts to reduce dependency on charcoal and firewood,” said Mr Tesha.

Additionally,  he noted that the product also covers businesses dealing in electrical appliances that serve as alternative energy sources.

He further explained that SELF MF is extending support to both rural and urban solar energy distributors who offer affordable solar systems to the public and that the loans are provided at low interest rates to help clean energy entrepreneurs grow their operations and reach a wider customer base.

In addition to clean energy financing, the Fund also provides salary-based loans to civil servants through its network of branches across 12 regions in the country.

Speaking during the ongoing Public Service Week exhibitions in Dodoma, SELF MF’s Human Resource and Administration Manager, Johari Magara, said the Fund’s participation aims at creating awareness of its broad range of financial services.

“SELF MF provides various loan products, including public servant loans, business and SME loans, agricultural loans, contractor financing, and now, clean energy loans,” she said.

She also noted that the institution offers insurance linked loans covering vehicles, residential property, theft protection, and other risk-related services.

Established in 2014, the SELF Microfinance Fund main goal is yo empower citizens economically through accessible loans.