Renewable Energy Actors Dialogue with Banks on Unlocking Sector Financing in Mainland Tanzania

TAREA in cooperation with Fraxen Consult Ltd conducted the dialogue between banks and the renewable energy entrepreneurs. The facilitation of the event was done with the financial contribution from C.S Mott Foundation.

On 5th May 2022 renewable actors met the banks operating in Tanzania to dialogue on “unlocking renewable energy financing”. The dialogue attracted financial institutes of Cooperative Rural Development Bank (CRDB), Maendeleo Bank, Mwalimu Development Bank, Equity Bank, TIB Investment Bank and National Bank of Commerce (NBC). The meeting was proceeded by the Learning Event in which bank officers visited renewable energy sites in Iringa Region. [visiting Kibidula Farm]

The learning event and the round table discussion aimed at imparting banks the knowledge of the potential of investing in renewable energy and understanding the renewable energy business models. [Visiting ELICO Smallholder Irrigation Scheme]

The main challenge identified in the meeting was the “information gap” between the banks and renewable energy entrepreneurs. Entrepreneurs do not know the existing financial products that can support the renewable energy sector. Also, it was not noted that there is a data gap on renewable energy.

It was agreed to conduct a working session that will consist of bankers and renewable energy entrepreneurs to propose renewable energy financial products.