Prof Ted Maliyamkono

Prof Ted Maliyamkono

Speaking during the launch of the training, ESAURP Executive Director, Prof Ted Maliyamkono, said the project aims to help micro and small businesses in the informal sector acquire business skills to help them grow and cross over to the formal economy.

They will be enabled to have access to financial services and work with partner banks to create a shift in banking culture in the way they assess informal sector projects seeking financial services, particularly loans.

?The underlying purpose of the project is to build the capacity of micro and small businesses in order for them to grow. This will be done by creating a replicable training programme aimed at helping small businesses integrate into the formal economy,? said Prof Maliyamkono.

He further noted that the project will also create a cadre of experienced trainers who will deliver courses or programmes to develop business skills for small businesses throughout the country, thus increase the number of business service providers in the country and expand the country?s business development capacity.

He said Tanzania Revenue Authority (TRA) will visit the participants at the venue and after completion some paperwork will be issued with Taxpayer Identification Number (TIN) and that the project is on the grade one scale.

The Acting Kilimanjaro Regional Commissioner (RC), Mr Lembris Kipuyo, said while gracing the occasion that entrepreneurs in his region are key drivers of economic growth hence the training is important. ?Small and medium sized enterprises are contributors to both income generation and job creation.

SMEs have the potential to significantly boost private sector growth,? said Mr Kipuyo.

The project involves conducting business environment formalisation review and capacity building programme by way of delivery of a five-day training to selected entrepreneurs in each region.

It covers general business management, financial management, record keeping, governance, business registration and tax matters. There will also be a three month mentorship and setting up of business support centres that will operate for three months.

FSDT Board member Eric Masinda said they aim at rooting out poverty in the country by equipping entrepreneurs with skills as the sector is by and large a vehicle for economic growth.

He said members find it difficult to access credits from banks and financial institutions because their businesses are not formalised.

He, however, said they cannot empower all entrepreneurs. But they are taking concerted efforts at least to reach 10 percent of them. He urged participants to be attentive and later implement what they learn if they are to succeed.

By DEUS NGOWI, Tanzania Daily News

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