Prime Minister Kassim Majaliwa listens to Mr Amon Mugeta of the Tanzania Higher Learning Institutions Students Organisation (Tahliso) when Mr Majaliwa visited some exhibition booths during CRDB Bank’s Uwekezaji (Investment) Day in Dar es Salaam yesterday. Others (from left) are Information, Communication and IT minister Nape Nnauye, CRDB Bank managing director Abdulmajid Nsekela and CRDB Bank board deputy chairperson Neema Mori. PHOTO | COURTESY
Summary
·
Launched
last October, the programme known as iMbeju is the brainchild of CRDB Bank Plc
in partnership with the Information and Communication Technologies Commission
(ICTC) and Costech
Dar es Salaam. Tanzanian youth and women can now apply for funding to finance their information and communication technology (ICT) projects through CRDB Bank’s new programme.
Launched last October, the programme
known as iMbeju is the brainchild of CRDB Bank Plc in partnership with the
Information and Communication Technologies Commission (ICTC) and the National
Science and Technology Commission (Costech).
Under the programme, CRDB Bank Plc
is setting aside Sh5 billion in annual financing for ICT projects as the lender
seeks to foster the growth of the digital economy in Tanzania.
Speaking during an event to
officially open the application window for project funding in Dar es Salaam
yesterday, CRDB Bank Plc managing director Abdulmajid Nsekela said the
programme will see the lender disbursing seed capital to youth and women who
own businesses and those with innovative ideas.
Through the programme, youth will
have to submit their business plans while those in school will have to bring
their innovative ideas and the team of experts from CRDB Bank will analyse them
and approve the required capital or relevant training needs.
“This programme is focused on
empowering women and youth economically by providing them with capital and
support to develop their businesses,” he said during the window opening event
that was graced by Prime Minister Kassim Majaliwa.
Mr Nsekela said the funding of the
enterprises will follow a competitive approach and that those with the best
ideas will be successful in getting the funds.
“One may ask why we selected to
create a seed capital for the group of youth and women and our main reason is
that we have identified businesses run by these groups and find out that most
of them operate informally and that due to a lack of experience, a number of
them fail to get financing,” he said.
Gracing the event, Mr Majaliwa
highlighted the need for Tanzanian youth to take advantage of the changing
global economic landscape and embrace entrepreneurship and innovation as a
means of achieving economic growth and development.
He said embracing entrepreneurship
and innovation were the surest means of curbing youth unemployment,
particularly among graduates.
“There are numerous opportunities in
various sectors for youth to leverage on, including agriculture, manufacturing,
tourism, and the creative industry,” he said.
He said the government, he said, has
also been in the forefront of supporting youth’s development and addressing the
employment gaps.
The government has also directed all
councils in the country to allocate areas for production activities, he said,
adding that so far 274,091 acres have been allocated for agricultural
activities and the development of small industries.
CRDB Bank Foundation CEO Tully
Esther Mwambapa said iMbeju was among the key projects of the foundation which
is tasked with establishing and implementing innovative, sustainable and
participatory programmes aimed at bringing social and economic prosperity.
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