Tap into agriculture, mid-sized firms urged
What you need to know:
Scores of executives and company officials from Arusha and neighbouring regions participated in the launch of this year’s annual event, aimed at celebrating entrepreneurs that contribute to the country’s economic growth and job creation.
Arusha. Firms have been challenged to exploit the government’s budget allocation on development projects this financial year in order to support the agricultural sector.
“There are very few companies in the agricultural sector that are doing well. Conversely, some of our local industries will not succeed without inputs from agriculture,” said the managing director of Mwananchi Communications Limited (MCL) Francis Nanai here on Monday.
He made the remarks during the launch of the 2016/17 Top 100 mid-sized company survey at the Kibo Palace Hotel.
Mr Nanai said the agricultural sector must change from being subsistence based to commercially-oriented for Tanzania to rise to the middle income economy by 2025 as prophesied by the fifth phase government.
He said the allocation of Sh12 trillion for development projects this fiscal year was a wake-up call for the local entrepreneurs to exploit the chance.
A senior manager with the KPMG, Mr Amour Saleh, said about 120 companies had so far confirmed participation. “The survey collects general and financial information from all participating companies in addition to market dynamics, industry benchmarks, human resource development, business confidence, future expectations and obstacles for growth”, he said.
Mr Bakari Machumu, the MCL executive editor, said the survey had been extended to Arusha and Mwanza this year because of the huge potential of the two cities in business development.
He said three out of four firms that won in the past four contests held so far hailed from Arusha and Mwanza.
