DC Makonda was speaking with business clubs’ leaders in Kinondoni Municipality who are engaged in small and medium enterprises as well as micro and small enterprises (MSE).
“Right now what we need in our country is creativity, most people in Africa don’t like new ideas and instead prefer to copycat others’ ideas which is wrong,” he said.
He called on SMEs and MSE to be innovative and creative like what they do in other countries so that they too can learn from Tanzania.
“Try to open your minds to new innovations and create something new that we don’t know or we don’t have in Tanzania so that other countries can learn from you,” he said.
He said fresh ideas depend on an individual’s mindset, urging entrepreneurs to use funds from banks to come with new business ideas.
Makonda thanked NMB Bank for organising the meeting for SMEs and MSE so that they can identify challenges they face in business and seek financial advice and assistance.
Makonda told SME and MSE that what they are doing today in Tanzania has a significant impact to the country’s development. He noted that through these clubs, business members get tax education; which is very important as it will prepare Tanzanian to be good tax payers than seeing tax as a punishment.
He called on other financial institutions to emulate the bank because what it is doing helps to steer development in the right direction.
On his part, Abdulmajid Nsekela, NMB Bank Chief of Retail Banking said that currently the bank has more than 30 business clubs countrywide with over 10,000 members who benefit from their training.
NMB offers training in areas such as record keeping, marketing and tax education with the help from Tanzania Revenue Authority (TRA) experts, trade finance and foreign currency exchange (Forex) which allows friendly cooperation between NMB businesses.
NMB business clubs intend to reach the bank’s clientele including both MSE and SME customer segment representing over 50,000 businesses banking customers countrywide with a portfolio of over 300bn/.
This is important tool for improving business knowledge among the country’s MSE and SMEs.