Dar es Salaam. Tanzania's transition to cleaner and more sustainable transport has received a major boost following the launch of EVOLVE, a Sh2.6 billion (€872,580) initiative that will finance and nurture electric mobility businesses across the country.
The 24-month programme, officially launched in Dar es Salaam by Enabel, Mercy Corps and NMB Foundation, seeks to unlock the growth potential of start-ups and micro, small and medium-sized enterprises (MSMEs) operating in Tanzania's emerging electric mobility ecosystem.
Funded by the European Union under its Global Gateway strategy through the Tanzania Gateway for Transport, Trade and Environment (T-GATE) project, EVOLVE combines financial support with business development services to help entrepreneurs transform innovative ideas into sustainable enterprises.
EVOLVE, short for Empowering EV Ventures through Opportunities for Leveraged Value Addition and Expansion, is being implemented by Mercy Corps and the NMB Foundation in coordination with Enabel.
The programme is co-financed through a European Union grant administered by Enabel alongside investment from the NMB Foundation. The initiative comes at a time when Tanzania's electric mobility sector is experiencing rapid growth.
