TOP 100 MID-SIZED COMPANIES SURVEY: A key launch pad for expansion

Dar es Salaam. The Top 100 Mid-Sized Companies Survey creates a path for participating companies to pursue regional and international interests, stakeholders who spoke to The Citizen ahead of this year’s episode have said.

Launched seven years ago, the survey is the brainchild of Mwananchi Communications Limited (MCL) – through The Citizen brand – in partnership with audit and tax advisory firm KPMG.

NMB Bank is the main sponsor of the survey, which this year is marking the eighth episode since its launch.

Other sponsors are Dar es Salaam-based Hyatt Regency Hotel, Dar es Salaam Stock Exchange (DSE) and Azam TV.

Mr Tido Mhando, Azam TV managing director, is optimistic that participating companies stand a great chance to grow their businesses through exposure.

He says the survey seeks to highlight the strength, diversity and ingenuity of entrepreneurs, while at the same time helping them to build partnerships, both locally and internationally.

Mr Mhando notes that qualifying companies enjoy a number of benefits, ranging from business networking, advisory service, and assistance to lobbying government for a better working environment.

“The Top 100 Mid-Sized Companies Survey provides an opportunity for participating companies to share experience and best practices with other companies,” he says.

Mr Ketan Shah, KPMG Tanzania partner, says Top 100 is important because the initiative seeks to provide insights into market dynamics, industry benchmarks, human resource development, business confidence, future expectations, obstacles to growth and drivers of success.

“Our objective is to promote a fair playground in the market place and assist in creating a path for businesses to grow beyond our borders,” says Mr Shah.

Mr Ibrahim Mshindo, Dar es Salaam Stock Exchange (DSE) chief finance officer, urges companies to use the Dar bourse as a platform for raising capital if they are to become competitive both locally and internationally.

The role of DSE in this project, he points out, is to encourage Mid-Sized companies to join the stock exchange.

Stakeholders suggest that participating companies should redouble their efforts so that they can graduate to Club 101 – doing a business with a turnover exceeding Sh20 billion per annum.

Targeted in the Top 100 are companies with an annual turnover of Sh1 billion to Sh20 billion.

Opportunities available

“I strongly believe that many companies have what it takes to move to the apex. The opportunities are abundantly available,” says Mr Mshindo. “It is up to companies to seize the moment and take advantage of the opportunities at hand.”

Mr Ali Mufuruki, chairman and CEO of Infotech Investment Group Ltd, says participating firms have much to gain from the survey through increased interest in their businesses from customers, suppliers, investors and financiers.

He hopes that the Top 100 initiative will contribute to the realisation of the aspirations of the people of Tanzania by recognising and celebrating these businesses.

Not only that. The Tanzanian entrepreneur, philanthropist and leadership coach adds that the survey is a strategic platform for sharing lessons, networking and deepening business relationships.

He calls for the participating companies to continuously think big and be bold for them to improve.

“It is you who are stimulating the entrepreneurship culture in the country and it is you who will inspire others to join and enhance this culture in Tanzania,” says Mr Mufuruki, who was the chief guest at the maiden Top100.

Mid-Sized Companies are instrumental in the realisation of Tanzania’s Vision 2025.

Mr Mufuruki says Top 100 is a platform for enhancing discipline in businesses.

“Top 100 reminds one of the importance of record keeping in business… a two-year audited track-record is a prerequisite for entry in the survey,” he says.

Mr John Bura, managing director of BQ Contractors, the first overall winner of Top 100 Mid-Sized Companies Survey in 2011, believes the survey is a bridge that has the potential to take participating companies to the next and higher level of success.

“I have evidence to back up my claim,” notes Mr Bura. He says since they were announced the overall winners of the 2011 Top100 they have been winning at least two big tenders every year.

“We have won and delivered successfully on over 40 big and small projects,” Mr Bura reveals.