TCCIA president urges SMEs to merge and compete in market

08Jun 2021
Francis Kajubi
Dar es Salaam
The Guardian
TCCIA president urges SMEs to merge and compete in market

WOMEN who own small and medium size enterprises have been advised to merge and form stronger companies that will be able to raise capital and produce goods and services that can compete in the global market.

TCCIA president Paul Koyi talks to Elizabeth Mkonya an entrepreneur who attended capacity building training held in Dar es Salaam last week. Looking on is TASWE chairperson, Anna Matinde. Photo: Francis Kajubi.

Tanzania Chamber of Commerce, Industry and Agriculture’s President, Paul Koyi said in Dar es Salaam last week when addressing members of Tanzania Saccos for Women Entrepreneurs (TASWE) who were attending a capacity building workshop that strong companies will also enable them get loans or attract equity from investors.

“When you join forces, you can meet criteria needed by financial institutions to lend your company which then becomes competitive in the market. Producers of a certain product can come together and form a company, register it and put down proposals for investors or financial institutions support in terms of capital,” Koyi said.

He pointed out that the majority of entrepreneurs never live to see their success as each of them prefer to keep it alone hence fail to compete which leads to collapse of such businesses. 

Koyi revealed that TCCIA and TASWE will soon sign a memorandum of understanding for the purpose of enabling members to benefit from different business opportunities available at the chamber.

“One of TCCIA’s mission is to help small and medium size entrepreneurs grow to the maximum. The memorandum that we are looking forward to sign in a few days to come will put TASWE members in the limelight and expose their businesses to a myriad of opportunities available at TCCIA,” the TCCIA President added.

In her welcoming remarks to Koyi, TASWE Chairperson, Anna Matinde said that the main challenge that women entrepreneurs face is shortage of funds to grow their businesses and compete in the market.

“TASWE is an independent financial institution providing deposits and credit facilities to its members. In addition TASWE Saccos aims to provide support to members’ economic activities,” Matinde said. According to her, TASWE has established an online platform to enable its members to showcase and sell their products globally.

In a vote of thanks, one of TASWE members, Elizabeth Mkonya said she has been facing challenges in marketing her cookies and confectionaries. Mkonya said the four-days training helped her to acquire knowledge and skills on how to sell online especially at this time of the coronavirus outbreak.

In collaboration with GIZ’s Business Scouts for Development department, a German Federal Ministry for Economic Cooperation and Development (BMZ) funded programme, TASWE’s members are being trained and linked to market opportunities for their but also to investors or financial institutions.

Through the training involved new innovative models related to products' branding techniques, marketing network, packaging, sales and customer relationship management.

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