TAMFI, TAREA join hands for renewable energy future

DAR ES SALAAM: The Tanzania Association of Microfinance Institutions (TAMFI) has joined hands with the Tanzania Renewable Energy Association (TAREA) to explore and elevate the role of financial institutions in accelerating renewable energy solutions to the last-mile communities across the country.

TAMFI Executive Secretary Winnie Terry said at the end of the two-day forum in Dar es Salaam that ended yesterday that their collaboration with TAREA was a testament to their commitment to making renewable energy financially accessible to all.

“Renewable energy is not just the future; it’s the present,” Ms Terry said.

TAMFI, the vanguard of microfinance institutions in the country, recognises the pivotal role of finance in unlocking the potential of renewable energy projects.

TAREA Executive Secretary Dr Matthew Matimbwi said the rising figures in solar connectivity, covering 30.4 per cent of the country’s household electricity are representing hope and progress.

“Our synergies with TAMFI will amplify these figures and ensure a sustainable future for all Tanzanians,” Dr Matimbwi said.

Together, the two organisations are setting a stage to ensure that budding entrepreneurs and communities have the right financial tools at their disposal to champion green energy innovations.

The shift towards renewable energy in Tanzania, especially with a growing interest in solar home systems and mini-grids, signifies a larger trend of sustainable progress.

Tulibako Mwansasu from the E-LICO Foundation said they are lending solar power setups to farmers, aiding them in drilling wells and powering their irrigation systems.

“While our current projects are in Iringa and Dodoma—thanks to donor support—we aim to expand our reach throughout Tanzania and potentially across Africa,” Mr Mwansasu said.

Additionally, the foundation offers solutions like solar-powered refrigerators, helping preserve essential goods like fish, meat, and milk in places where there are off-grid.

The government has set a target of generating 50 per cent of its electricity from renewable sources by 2030.

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