The European Union-funded FUNGUO programme, in partnership with CRDB Bank’s iMBEJU initiative, has unveiled its third cohort of 18 startups.
The strategic collaboration blends transformative, non-repayable grants from FUNGUO, funded by the European Union, with reimbursable grants from CRDB Bank Foundation’s iMBEJU programme, amplifying opportunities for startups to scale and thrive.
The third cohort emerged from more than 400 applications nationwide. The funding pool, valued at TZS1.45 billion (US$600,000) in the form of FUNGUO Catalytic Grants and TZS355 million (US$150,000) in iMBEJU Soft Loans, reflects the commitment to strengthening innovative impact-driven businesses that contribute to job creation, youth empowerment, and the Sustainable Development Goals (SDGs) in Tanzania.
The selected startups span multiple sectors, including agriculture, energy, circular economy, healthcare, and financial services, often offering technology-driven solutions. These businesses aim to address pressing societal challenges while creating employment opportunities, particularly for youth.
“Innovation is the backbone of our nation’s progress, and today, as we have witnessed the unveiling the third cohort of investees under the FUNGUO Innovation Programme in partnership with iMBEJU, we celebrate the bold ideas and entrepreneurial spirit driving Tanzania’s future. The Ministry of Information, Communication, and ICT is committed to supporting initiatives like this that empower startups to create solutions that impact our communities and contribute to a digital and inclusive economy,” said Jerry Silaa, minister of ICT.
