TCCIA, EABC partner to boost youth entrepreneurship

DAR ES SALAAM: THE Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA) and the East Africa Business Consortium (EABC) have signed a Memorandum of Understanding (MOU) to promote youth entrepreneurship in the country.

The five-year agreement aims to address the pressing issue of youth unemployment by fostering entrepreneurship as a pathway to self-employment and economic empowerment.

EABC’s Chief Executive Officer, Mr Imani Kajula, emphasised that one of the major challenges facing young people today is unemployment and through this collaboration, the two institutions plan to provide training to equip youths with the skills needed to establish sustainable businesses.

“The initiative aims to equip young people with essential skills and encourage them to engage in entrepreneurship. By doing so, we hope they can take advantage of the many opportunities arising from the economic growth of East Africa and the broader African market,” Mr Kajula said in Dar es Salaam yesterday.

He further explained that the goal is to create a generation of youths who see entrepreneurship as the best way to self-employment, transforming them from being employees into employers.

This vision aligns with the broader economic growth happening in the region and will help youth navigate local, regional and continental markets, including the African Continental Free Trade Area (AfCFTA).

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Tanzania is among the 43 African countries that have agreed to join the AfCFTA, which offers extensive opportunities for Tanzanian entrepreneurs and businesses to benefit from the vast African market.

The partnership between EABC and TCCIA, according to Mr Kajula, is especially significant as Tanzania is rich in opportunities that require an entrepreneurial mindset to capitalise on.

By empowering young people with entrepreneurial skills, this initiative will enhance their ability to identify and effectively harness both existing and emerging opportunities.

Mr Kajula also underscored the importance of the partnership with TCCIA, noting that the chamber’s extensive network across 26 regions and 150 districts will allow the initiative to reach and benefit a large number of young people.

This reflects EABC’s vision to be a catalyst for the growth of entrepreneurship in East Africa. Additionally, the TCCIA Executive Director, Mr Oscar Kissanga, stressed that promoting entrepreneurship is a vital tool for building a strong entrepreneurial ecosystem.

He added that by supporting youth businesses, this partnership will significantly benefit many young Tanzanians, equipping them to take advantage of the abundant opportunities available in the country.

“This partnership will ensure that many youths are reached and supported, helping them to turn their ideas into viable businesses,” Mr Kissanga stated.

Through this MOU, TCCIA and EABC are jointly working to equip youths with the necessary tools to thrive in Tanzania’s evolving business landscape.

The collaboration will ultimately help foster a new generation of entrepreneurs capable of driving the country’s economic growth.