Tanzania’s thriving economy is fueled by its Small and Medium Enterprises (SMEs) and social enterprises, which are key drivers of job creation and sustainable development. Contributing roughly 35% of the nation’s GDP and employing over 20% of the workforce, these enterprises serve as vital engines of growth, particularly in sectors such as agriculture, manufacturing, trade, and services. However, despite their significant role, Tanzanian SMEs face ongoing challenges, including limited access to finance, technical expertise, and market opportunities, which impede their ability to scale and compete in the global economy.
Recognizing the need for targeted support, the Strathmore Global Institute, Tanzania, in collaboration with the Sisters’ Blended Value Project, hosted the 2024 Tanzania Annual SME and Social Enterprises Conference & Expo at the Dar es Salaam Serena Hotel on Friday, 21st September 2024. Under the theme “Empowering Tanzanian SMEs and Social Enterprises for the Future”, the event convened entrepreneurs, policymakers, business leaders, and industry experts to explore strategies for unlocking the potential of Tanzania’s SME sector.
A central focus of the conference was the exploration of economic growth strategies through innovation, establishing financial partnerships, and fostering mentorship and collaboration networks. A special emphasis was placed on empowering women and youth entrepreneurs, whose inclusion is pivotal to the nation’s socio-economic advancement.
In a powerful opening address, Dr. Angela Ndunge, Senior Faculty Member and Principal Investigator of the Sisters’ Blended Value Project (SBVP), challenged attendees to adopt a business-oriented mindset and to view adversity as an opportunity. Dr. Ndunge encouraged participants to remain resilient in the face of challenges, highlighting that the ability to adapt and pivot during tough times is key to long-term business success.
Dr. Vincent Ogutu, Vice Chancellor of Strathmore University, added a visionary call for problem-solving leadership. “We have the power to solve our problems,” he remarked, urging entrepreneurs to proactively address challenges within their communities. His message resonated deeply, reminding participants that innovation and local solutions are crucial to sustainable growth.
The keynote speech by Dr. Oscar Kisanga further emphasized the importance of research and training in fostering continuous growth within the SME sector. He noted that learning and development should not only drive personal advancement but also contribute to national progress. Dr. Kisanga encouraged entrepreneurs to seek out the untapped opportunities within Tanzania and harness them for growth, underscoring the need for lifelong learning and upskilling.
The 2024 SME Conference was more than just a platform for dialogue; it was a rallying call for entrepreneurial empowerment across Tanzania. Through meaningful discussions and the forging of new partnerships, the event set the stage for transformative growth in the SME sector, providing attendees with the tools and insights needed to lead Tanzania’s businesses into the future.
Article by Juliet Hinga
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