Watu Credit (Tazania) Limited unveiled a groundbreaking initiative aimed at expanding its asset financing support for Compressed Natural Gas (CNG)-powered three-wheelers across Tanzania. The move underscores Watu’s steadfast commitment to environmental sustainability, with a bold target of financing at least 1,000 CNG-powered three-wheelers by the close of 2024, marking a significant stride towards transitioning the transport sector to cleaner energy sources.
The initiative’s official launch witnessed the esteemed presence of the Ilala District Commissioner, Hon. Edward Mopogolo, who lauded the collaborative efforts between the government and private sector through public-private partnerships. Hon. Edward Mpogolo emphasized the alignment of these endeavors with Sustainable Development Goal No. 7, which aims to ensure access to affordable, reliable, sustainable, and modern energy for all Tanzanians by 2030.
Expressing dedication to the cause, Rumisho Shikonyi, Country Manager at Watu in Tanzania, underscored the pivotal role of transitioning to cleaner energy in fostering clean, safe, and sustainable transport. Shikonyi emphasized, “This commitment helps safeguard our environment because the future of our entire planet depends on the actions we take today.”
Watu has already made significant strides towards this objective, having financed over 200 CNG-powered three-wheelers worth Tshs. 2.2 billion in the past two months alone. The newly launched campaign seeks to amplify their impact further, with a targeted financing of at least 1,000 more vehicles, thereby advancing the clean mobility agenda across the continent.
The event also witnessed the participation of notable stakeholders from the energy and environmental sectors, including Engineer James Mologosho (Principal Engineer Natural Gas – Distribution & Supply at EWURA), Tajiel Urioh, an expert in climate policy, carbon markets, and energy transition, and Dr. Asebei A Nyari (Mechanical Engineering Lecturer & CNG Project Coordinator at DIT), underscoring the collaborative spirit driving this transformative initiative forward.
