Bank, Oryx ink deal to mobilize clean cooking energy campaign

DAR ES SALAAM: The Equity Bank and Oryx Gas Company have signed an agreement to promote the government’s efforts of increasing the use of clean cooking energy in the country.

Speaking during the signing ceremony on Thursday, the Director of Equity bank, Isabela Maganga said that by launching a new system of acquiring a loan of cylinder gas digitally to distributors countrywide the goal of the agreement is to preserve the country’s environment and reduce deforestation as well as in ensuring that the usage of charcoal remains a history in the community.

“What we want is to achieve a better tomorrow and see into that our present and future generations are safe through this lifestyle,” she pointed out.

Elaborating, the Director noted that for their goal to be achieved, the bank in collaboration with Oryx gas have come up with a ‘Distributor Financing’ product that will enable their agents and distributors to acquire a loan through mobile phones.

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“This will allow agencies to increases their capital and buy large quantities and the most interesting part is that the customer orders and gets the stuff digitally, there is no need to come to the bank, all they have to do is the initial registration and then to the payment system… the goal is to ensure that all suppliers get the product easily and reach the last users in their various locations across the country,” she noted.

According to the Director of Oryx gas, Ashery Mbasha the new product is affordable and will be able to reach as many people as possible.

“We have decided to ease things for our customers, there is no need to rush to the bank with papers for a loan, because just with your phone you can get it anywhere,” he stated.

The move comes just a day after President Samia Suluhu launched the National Clean Cooking Energy Strategy in Dar es Salaam, while calling upon the private sector to invest massively in the industry, including technology to enable every citizen have easy access to clean cooking energy.