Unlocking the potential of economy to promote development

19Jun 2020
Henry Mwangonde
Dar es Salaam
The Guardian
Unlocking the potential of economy to promote development

A CAMPAIGN is catching up for Tanzania to adopt a new country-specific economic model based on a social market economy billed to promote sustainable development.

Dr Charles Kitima

This follows a study conducted by experts from three universities namely St Augustine University of Tanzania (SAUT), University of Dar es Salaam (UDSM) and Mzumbe University that sought to establish the type of economic model that can unlock Tanzania’s potential.

Speaking at a media training on the matter yesterday, Tanzania Episcopal Conference (TEC) Secretary General Fr. Dr Charles Kitima said after initiatives to inform various groups including religious leaders  on the economic model, the turn is now on senior government officials to understand how the proposed economy works.

The Social Market Economy for Tanzania (SMET) is aimed at promoting and sharing the idea of an alternative economic model to be adopted in order to foster economic transformation and development through industrialization.

Dr Kitima argued that the current economic model—free market—is not friendly to the majority of Tanzanians since it favours only the already established businesspeople and multinational corporations.

SMET is an economic model which ensures that human beings are the focus of all economic activities and that inefficiencies of the state-controlled economy are minimized or completely phased out.

The model fosters equal opportunities for all individuals and emphasizes on their human dignity.

“We have a role to play in ensuring that we create an economy that is inclusive and benefit all Tanzanians,” Dr Kitima said.

According to Kitima the book is an attempt to live up to Mwalimu Nyerere’s plea for people centered development where it takes into account the different economic reforms which Tanzania has undergone since independence.

Now the team is planning to create a way in which the economic model can be incorporated in political party’s manifestoes to be discussed in the coming General Elections.

He said despite the achievements made, many people have remained poor and lack access to key social services and that the economy does not reflect the national social economic development.

An economy which is inclusive and competitive and not destroying each other

We have had various initiatives to improve our economy but we don’t success because we have not established our economic model.

One of the presenters during the training, Ponsian Ntui said this is the time the country developed its own economic model that will have meaning to an individual’s economy.

He said SMET aims at creating suitable framework for an open market policy and creating a reliable tax system with long term plans.

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