MSMEs urged to capitalise on IMBEJU programme

Micro, Small and Medium-sized Enterprises (MSMEs) have been advised to utilise available business opportunities under the IMBEJU programme to expand their business and contribute to economic development.

IMBEJU is programme seeks to identify and select from a diverse group of ambitious, entrepreneurial minded innovators building products, services and companies that are disruptive and transformative in nature, and that can harness the power of the digital economy to drive Tanzania’s entry into the Fourth Industrial Revolution.

Numerous services including financial training and loans offered by the CRDB Bank Foundation will guarantee business capital and total control of markets hence attaining business growth.

Minister of Social Development, Gender, Women and People with Special Needs, Dr Dorothy Gwajima made the remarks yesterday in an entrepreneurship exhibition held at Mnazi Mmoja open ground.

She said women and the youth are the backbones of the national economy such that if they are empowered financially, will contribute more to the Gross Domestic Product (GDP).

“I urge the entrepreneurs to use this CRDB programme ‘IMBEJU’ to boost your business capital and the overall growth of your businesses through their training,” said Dr Gwajima.

Additionally, “Women and youth have been among the groups deprived of capital, financial illiteracy and thus through this programme many of you will get trained to make your businesses sustain,” she added.

CRDB’s Managing Director, Mr Abdulmahjid Nsekela said the bank has always been optimistic in supporting the SMEs by issuing loans and carrier training to enable them to boost their businesses and promote the country’s social-economic development.

He said the lender has been at the forefront in supporting the SMEs both financially and socially such that until the second quarter of this year, the bank disbursed 3.4tri/- loans to 200,000 SMEs while at least 50,000 other entrepreneurs benefitted with carrier training.

“We believe that empowering these groups by bringing closer collaborative services and systems will help push them to reach their target goals,” said Mr Nsekela.

Speaking about the benefit of conducting the SME exhibition, the CRDB’s Foundation Managing Director, Ms Tully-Esther Mwambapa said the motive is to enable the entrepreneurs to display their products, linking up with other stakeholders to widen their markets.

She said the IMBEJU programme has managed to reach more than 700 youth startup businesses while more than 100,000 female SMEs have been enabled.

She added the bank set aside some 5bn/- to boost business capitals countrywide such that until recently, the lender’s foundation managed to give some of 250m/- as loans to more than 100 SMEs, nine motorcycles, and four tricycles to the women entrepreneurs.