Stanbic, NEEC sign deal to develop SMEs ecosystem

STANBIC Bank Tanzania and the National Economic Empowerment Council (NEEC) have signed a Memorandum of Understanding (MoU) to develop the entrepreneurial ecosystem through capacity-building and business support services.

The partnership seeks to leverage both institutions’ knowledge, expertise, technology and resources, to enable local SMEs to exploit the country’s investment opportunities and increase their regional/ global competitiveness.

The MoU was signed over the weekend by the Bank’s Chief Executive Mr Kevin Wingfield and NEEC Executive Secretary Beng’i Issa where  the Deputy Minister, Livestock and Fisheries Development Mr Abdallah Ulega witnessed.

Mr Wingfield said the two parties will jointly contribute to the implementation of a capacity-building programme named ‘Supplier Development Programme.’

He said the event marks the beginning of a new era.

“Bank in collaboration with our colleagues  NEEC will provide training that will enable Tanzanian entrepreneurs build and increase their capacity to enter the competitive market and take advantage of the opportunities available in large strategic projects in the country,” said Wingfield.

He said that the programme is under ‘Stanbic Biashara Incubator’ that will make a meaningful contribution to the SME sector and the country as a whole due to their respective capabilities.

The programme will see SMEs enjoy a bouquet of opportunities to upskill their businesses and leverage the opportunities within key strategic projects being undertaken in the region such as; the East African Crude oil Pipeline (EACOP) project and other sectors in construction, Agribusiness and Fisheries among others,” said Mr Wingfield.

He said the programme leverages other successful programmes in the Standard Bank Group in other countries like the Business Incubator in Uganda and Mozambique.

Mr Ulega, applauded both institutions for taking the major step in supporting Tanzanian SMEs, noting that the training is what Tanzanian SMEs need to become assertive and participate in competitive tenders.

On her part, Ms Issa said the collaboration with Stanbic will provide an opportunity to gain skills in Leadership, Finance & Accounts, Taxes, Laws, Contracts, Marketing and Procurement.

She further revealed that the training aims to cover seven regions starting with Dar es Salaam where 50 participants will be trained for three months.

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