Tanzania eyes energy incubator plan

DAR ES SALAAM, Tanzania–The Institute of Management and Entrepreneurship Development (IMED) is launching a renewable energy incubator programme.
The IMED Chief Executive Officer, Dr. Donath Olomi said the incubator will support youth who want to start or develop alternative energy enterprises through a package of services.
He said they will  offer mentoring, training, coaching, linkages to other forms of support, internships and access to equity and debt finance.
“We are in the process of constituting the Incubator Board, and we are looking for a person who has the passion to support entrepreneurship and small and medium sized enterprises,” said Dr Olomi.
He said: “And in this matter this person must have a strong finance/banking background with good knowledge and networks of debt and equity finance opportunities in the country or the region.”
Dr. Olomi said there are many reasons for investing in renewable energy and that fossil fuels (based on crude oil) energy resources are pollutants, limited and therefore not sustainable.
IMED’s plan comes after stakeholders met to discuss challenges facing Tanzania on matters of renewable energy policy last year. The Tanzania Commission for Science and Technology (COSTECH) made a presentation on the energy policy challenges and the need for renewable energy policy at the Workshop organized by Tanzania Renewable Energy Association at University of Dar es salaam
COSTECH said countries like Japan and others, which rely on imported fuel, risk the effects of price fluctuations and natural disasters. Using fossil fuels produces carbon dioxide resulting in global warming.