Access to finance an issue-SMEs

mengiAccess to financial services continues to be the main factor slowing growth of Small and Medium Entrepreneurs (SME) in the country due to the high cost of attaining formal financial education and to bridge this gap, a series of Investment education campaigns were launched to provide basic entrepreneurship training to SMEs at no charge.

To be held in September on the Mnazi Mmoja grounds in Dar es Salaam the events organisers Nuebrand’s Marketing Executive, Benjamin Mbichi explains that low financial knowledge is the major reason why SMEs have limited access to financial services and hence cannot grow their businesses.

“Many require financial education and enterprise training on how best to grow their business but they cannot afford the formal training…” says the executive.

He was speaking over the weekend in Dar es Salaam and in brief noted that the campaign will offer SME’s/entrepreneurs free enterprise development training through a series of workshops and a free financial literacy education for the general public, imparting information and education on the various financial services and products and rights and responsibilities as users of financial products and services.

The event is expected to bring together key players from financial institutions such as banks, insurance companies and municipal governments. This will include representative from the Ports Authority, the Muhimbili National Hospital Saccos, Maktaba (National Library) while some of the service providers will include CRDB Bank, Dar Stock Exchange (DSE) representatives from Tanzania Bureau of Standards (TBS) and the financial experts from the University of Dar es Salaam.

Source – The Guardian

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