NBC expands cleancooking financing push

ZANZIBAR: GROWING demand for cleaner cooking solutions is opening new financing opportunities in Tanzania, with National Bank of Commerce (NBC) stepping up support for businesses and innovators across the sector as the country seeks to reduce reliance on traditional fuels.

NBC Managing Director Mr Theobald Sabi said the bank was committed to supporting businesses, innovators and other players across the clean cooking ecosystem, creating opportunities for investment, employment and enterprise development.

He spoke yesterday during a photography art auction presided over by President Samia Suluhu Hassan at the Kizimkazi celebrations in Zanzibar.

NBC received a special award for its contribution to the initiative, organised by the Mwanamke Initiative Foundation (MIF) in partnership with Waba Group.

The event linked creative enterprise with tourism promotion, environmental conservation and clean cooking, featuring photographs showcasing Zanzibar’s landscapes, cultural heritage, tourism attractions, marine ecosystems and community life.

“At NBC, our approach is to finance the entire clean cooking energy value chain,” Mr Sabi said. “For us, this is more than just participation, it is part of our commitment to building sustainable communities, protecting the environment and supporting innovation.”

He said collaboration between financial institutions, government, businesses and innovators was critical to accelerating Tanzania’s transition to cleaner cooking solutions.

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Investment in the sector, he added, could strengthen local enterprises, create employment and open opportunities for young entrepreneurs.

For NBC, the initiative represents an opportunity to connect financial support with issues that have a direct impact on communities, businesses and the country’s long-term development.

President Samia commended young photographers for using creativity to promote Tanzania’s beauty, culture and way of life, saying photography could create commercial opportunities through tourism.

More than 200 young people participated, with works by 15 photographers selected for exhibition and auction. Ten photographs were sold, generating resources for clean cooking and environmental conservation activities.

MIF Chairperson Wanu Hafidh Ameir said proceeds would support efforts to expand clean cooking access, reduce pressure on forests and strengthen biodiversity conservation.

The initiative demonstrates how private-sector financing and creative industries can support environmental priorities while creating economic opportunities for young Tanzanians.