Briefing journalists in Dar es Salaam, ICAESB Chairperson, Dr Wineaster Anderson said the conference among other things intends to transform SMEs to enable them contribute heavily to the national economy.
She said government figures indicate that SMEs contributes between 35 and 45 percent of the country’s Gross Domestic Product (GDP).
“We want SMEs to boost their production. They have to meet international standards to attract international market …it is under the same spirit they can generate foreign currencies and thus contribute heavily to the GDP,” she said.
Dr Anderson who is also Dean of students at the University of Dar es Salaam Business School (UDBS) said this year’s 14th conference will draw key players from financial and business sectors to deliberate on solutions to address key challenges that African and Small Scale business face.
She admitted that there are several business entrepreneurs playing in the informal sector and contribute none or little to the national economy.
She said her institution has been organising events that bring together financial, academics, experts and entrepreneurs to discuss ways to improve the sector and therefore transform welfares of individuals in the society.
She further said UDBS has also been connecting entrepreneurs with financial institutions to enable them access seed capital for their businesses.
ICAEB Deputy Chairperson, Dr Goodluck Charles said: “We are coaching and guiding entrepreneurs to easily access financial support from financial institution for them to transform their businesses.”
Dr Charles was of the view that SMEs have a potential role to play in the country’s development transformation.
He said for Tanzania to attain her development vision 2025 and become a semi-industrialised economy, both public and private sectors needs to team up and fight altogether.
“We both need to speed-up, to rush to achieve our objectives,” he said, insisting: “the contribution of SMEs cannot be overlooked.”
The 14th International Conference on African entrepreneurship and small business development expects to draw more than 150 participants from 10 African countries.
The conference has been organised by the University of Dar es Salaam and funded by the Swedish government, Financial Sector Deepening Trust, Tanzania Postal Bank (TPB) and Business Environment Strengthening Tanzania (BEST)-AC Programme.
SOURCE: THE GUARDIAN
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