Tanzania:CRDB Bank, GIZ launch Sh3bn Fund for entrepreneurs

The CRDB Bank Foundation (CBF), in collaboration with the German development agency GIZ, unveiled a transformative Sh3 billion ($ 1.2 million) funding initiative to empower youth- and women-owned businesses across Tanzania.

The program, linking CBF’s Imbeju initiative with GIZ’s Ajira Ye2 project, aims to bolster micro, small, and medium enterprises (MSMEs) by providing business training, financial literacy, and start-up capital.

CBF Managing Director Tully Esther Mwambapa announced that the funding window will support 325 businesses, projected to create 510 new jobs within a year. “This partnership with GIZ is set to transform the lives of women and youth,” she said. “For years, we’ve conducted public seminars, but this initiative takes it further by providing tangible resources to drive employment and boost household incomes.”

The program targets entrepreneurs in Dar es Salaam, Zanzibar, and Morogoro, with a focus on sectors that promote decent jobs and environmental sustainability. In Dar es Salaam, priority areas include agriculture, recycling, renewable energy, eco-conscious construction, and clean energy value chains.

Zanzibar-based applicants are encouraged to focus on fish farming, seaweed cultivation, natural products like spices and cosmetics, tourism, and environmental protection. In Morogoro, climate-smart agriculture, agro-processing, and eco-friendly packaging are key sectors.

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Successful applicants will gain access to business management seminars, mentorship from seasoned entrepreneurs, participation in trade exhibitions, and start-up capital of up to Sh30 million. To enhance capacity, CBF is partnering with government bodies such as the Tanzania Revenue Authority (TRA), Business Registration and Licensing Agency (BRELA), Tanzania Bureau of Standards (TBS), Small Industries Development Organisation (SIDO), and the National Institute of Transport (NIT).

GIZ Acting Project Manager Dennis Mbangulla highlighted the initiative’s alignment with the WE4D program, launched in 2024 with support from Norway’s development agency (NRAD) and the European Union. “This collaboration fosters inclusive economic growth by empowering youth- and women-led businesses, particularly in green sectors,” he said.