Ambassador Urges Youth,Invest in Energy

Ambassador Jacob Kingu, the Board Chairperson for the Rural Electrification Agency (REA), has urged young entrepreneurs to seize opportunities provided by various loan schemes to establish filling stations, fostering investment in the energy sector.

Speaking at the REA pavilion during the ongoing Dar es Salaam International Trade Fair (DTIF-2024), Kingu highlighted the agency’s commitment to supporting youth-led ventures.

He outlined the specifics of the loan scheme, which offers up to 70 million Tanzanian Shillings at an attractive interest rate of 5 percent. The primary eligibility criterion is ownership of a legally recognized 20 by 20 plot of land. Kingu emphasized that this initiative aims to empower youth and catalyze economic growth through sustainable energy investments.

“The loans are issued to individuals who have a 20 by 20 plot to open up a filling station, as part of investment into the energy sector,” Kingu stated.

The push for increased youth involvement in the energy sector comes amid broader efforts by the REA to enhance rural electrification across Tanzania. The agency, backed by substantial investments and partnerships, has been pivotal in extending electricity access to remote areas, significantly improving living standards and economic prospects.

In recent months, the REA has achieved notable milestones. The European Union (EU) recently donated 21 vehicles to the agency, worth 1.9 billion Tanzanian Shillings, to bolster their capacity in implementing rural electrification projects. This donation is part of the Turnkey III – Rural Electrification programme, which aims to connect over 194,000 households across more than 3,500 villages to the national grid by July 2024

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Furthermore, the REA, in collaboration with the Tanzania Electric Supply Company (TANESCO), has embarked on Phase Two of a project to electrify 5,000 homes in Tanga region, with an investment of 48 billion shillings
itc-commends-rea-projects-in-manyara-and-arusha-for-rural-electrification-efficiency/). These efforts are complemented by ongoing projects to build electricity distribution infrastructure in regions such as Pwani, where REA is investing 44 billion shillings to serve small mines and agricultural areas

Kingu’s call to action for the youth aligns with the REA’s broader mission to drive sustainable development through enhanced energy access. By tapping into available financial resources and embracing entrepreneurial opportunities in the energy sector, young Tanzanians can play a crucial role in the nation’s progress.

The DTIF-2024 continues to be a platform for showcasing innovations and fostering dialogue on sustainable development. As the trade fair progresses, stakeholders remain optimistic about the potential of such initiatives to spur economic growth and improve livelihoods.