Musoma, May 8, 2023 | #RenewableEnergyFinancing
From the verdant terrains of Tanzania’s Mara region, Juma Makole, a seasoned farmer and livestock keeper, battled persistent irrigation setbacks for years, curtailing his agricultural yield. Yet, 2021 marked a revolutionary change in his agricultural journey, attributed to the renewable energy initiative by the Tanzania Association of Microfinance Institutions (TAMFI).
Securing a financial boost from Enokwe Microfinance, an esteemed TAMFI affiliate, Makole equipped his farm with a solar panel and pump. This pivotal shift exponentially enhanced his yield and slashed operational expenses. Previously, he relied on manual labor to irrigate a modest three-quarter-acre plot. With his solar innovations, Makole now oversees a thriving five-acre farm, freeing up his workforce for essential tasks like planting and weeding.
By integrating renewable energy, not only did Makole’s operational expenses plummet, but he also witnessed soaring profits, funneling them into livestock rearing. His livestock portfolio now boasts an impressive 150 goats and 80 cows.
Under the financial agreement, Makole committed to repaying 1,300,000 shillings in installments of 50,000 shillings over 24 months. His flourishing farm and the solar equipment served as loan collateral. Enokwe Microfinance, beyond providing financial backing, ensures regular check-ins, affirming Makole’s sustained progress.
Harnessing renewable energy has elevated Makole’s agricultural operations, permitting year-round farming and providing consistent water supply for his livestock. This innovative approach sets him apart, especially during prolonged dry spells, safeguarding his livestock from adversities faced by neighboring farms.
Makole’s transformative journey underscores the profound impact of renewable energy in revitalizing agriculture and uplifting lives. With stalwart allies like Enokwe Microfinance, he has optimized productivity, economized operations, and upgraded his living standards.
Echoing this sentiment, TAMFI’s CEO remarked, “Juma Makole’s journey embodies the potential of renewable energy in rejuvenating agriculture and uplifting small-scale farmers. Our mission at TAMFI champions renewable energy financing, ensuring farmers like Juma tap into clean, affordable, and dependable energy avenues. A concerted investment in renewables not only spurs economic growth but sketches a greener, sustainable roadmap for all Tanzanians.”
She further emphasized, “TAMFI, in collaboration with partners like Enokwe Microfinance, ardently strives to dismantle poverty by democratizing access to renewable energy finances. Juma Makole stands testament to the transformative prowess of this commitment, manifesting in amplified productivity, trimmed costs, and enhanced quality of life.”
This success narrative emanates from the project “Energy Access: Building an Innovative Financial Ecosystem for Enterprises and End Users,” spearheaded by TAMFI and generously backed by the C.S. Mott Foundation. The initiative is aimed at enlightening financial entities and stakeholders on the merits of decentralized renewable energy (DRE) for productive purposes, highlighting its role in fortifying reliability and economizing production processes.