Dar es Salaam. Over 600 young Tanzanians have directly benefited from the Crowdfunding for Youth Entrepreneurship in Tanzania (C4YET) project, a youth-focused initiative aimed at improving access to finance and entrepreneurship skills, as it officially comes to a close.
Launched in February 2019, the project has supported young people across the country through training, financing and mentorship, helping them transform business ideas into viable enterprises. Out of the total beneficiaries, more than 200 young entrepreneurs received interest-free loans to start or expand their businesses.
Speaking during the project’s closing ceremony over the weekend, representing the Vice Chancellor of Mzumbe University, Prof Allen Mushi said the initiative had made a significant impact on youth empowerment and institutional capacity building.
“Together, we trained more than 600 young people, gave interest-free loans to over 200 youth entrepreneurs, and built lasting skills within our university,” said Prof Mushi.
He added: “We also established a Centre for Alternative Financing and supported three PhD students to complete their studies. Most importantly, we have become a university that listens, learns and serves.”
Prof Mushi said beneficiaries of the project expressed optimism about the future, noting that the skills, funding and experience gained would continue to support their entrepreneurial journeys beyond the project’s lifespan.
He explained that the C4YET project focused on promoting crowdfunding as an alternative way for young people to access capital, an approach that has proven effective when combined with research, capacity building and institutional support.
Development partners, including the government of the Kingdom of Denmark and the Danida Fellowship Centre, were acknowledged for their financial and technical support, which played a critical role in the project’s success.
Prof Mushi added that although the initiative has come to an end, its legacy will continue through strengthened partnerships, improved research capacity and expanded opportunities for young entrepreneurs in Tanzania.
Representing the Ministry of Education, Science and Technology, Director of Higher Education Dr Mohamed Othman said the project aligned closely with national development priorities, particularly in promoting innovation and skills development among young people.
“Our national education policy continues to emphasise the importance of building Tanzanians’ capacity through education, research and innovation so that they not only become knowledgeable but are also equipped with skills that enable them to create opportunities, become self-reliant and increase their incomes,” said Dr Othman.
He added: “Projects such as C4YET demonstrate exactly this vision of how universities can move beyond teaching to become catalysts of innovation, entrepreneurship and economic transformation.”
Dr Othman said it was encouraging to see how the project had contributed to strengthening research capacity, promoting youth entrepreneurship and supporting alternative financing solutions that respond to real societal needs.
He noted that lessons learned from C4YET would help inform future policies and programmes aimed at expanding access to finance for young entrepreneurs across the country.
The C4YET project is expected to leave a lasting impact on how universities and stakeholders approach youth entrepreneurship, particularly through alternative financing models such as crowdfunding.
