GOVERNMENT PLEDGES MORE SUPPORT TO MID-SIZED COMPANIES

Hon. Charles Mwijage, Minister for Industry, Trade & Investments (first right) applauds after handling over a trophy to Dar Ceramica Centre 2001 Ltd officials. The company scooped the 1st position of the Top 100 Mid-sized companies award for this year during the awards ceremony took place in Dar es Salaam over the weekend. Awards are organised by KPMG and Mwananchi Communications in partnership with Bank M. Others in the photo are Bank M CEO Ms. Jacqueline Woiso (second left) and KPMG partner Ketan Shah (first left).

The government has reaffirmed its commitment to support the Small and Medium Enterprises (SMEs), but this time paying particular attention to the mid-size companies whose impact on the economy in terms of job creation and industrialization is immense.

Speaking during the Top 100 mid-sized companies awards ceremony on Friday in Dar es salaam, The Minister for Industry, Trade and Investment Hon. Charles Mwijage said the government is committed to creating an environment that will allow the mid-sized companies thrive.

“SMEs have tremendous ability to create growth and development. And for that, the government is committed to creating an enabling environment for them to excel. We (government), through the establishment of Tanzania Entrepreneurship and competitiveness Centre (TECC), will endevour to deal with challenges that affect the SMEs sector,” he said.

Hon Mwijage also advised the mid-size companies to adopt corporate governance practices and improve the quality of their products and services in order to strengthen their market position and remain competitive.

At the same event, Top 100 mid-sized companies in the country were recognised and awarded after a survey conducted by KPMG, an audit firm showing they meet all the ingredients and financial fitness of a competitive mid-size firm. The survey, which is in its seventh year running, is sponsored by bank M under a joint initiative between KPMG and MCL.

Speaking on behalf of Bank M, the CEO Ms. Jacqueline Woiso expressed the Bank’s satisfaction to the whole process, “we congratulate KPMG and MCL for this initiative, as well as the winners. Mid-sized companies play a central role in the economic growth of any country. By recognizing their contribution, we believe that they will be encouraged to do even more. By so doing, such companies will prosper increase productivity as well as its contribution to the social welfare of the people by creating more employment opportunities and most importantly boosting our economy.”

This is the survey which celebrates business success among the country’s Mid-Sized Companies as well as entrepreneurs for contributing to the employment generation and growth of the Tanzanian economy in general. The award is given to companies which rank ahead of their peers in terms of revenue growth, profit growth. A top 100 company has succeeded in progressively growing its market position over time.

The event revealed the 2017/18 winners being Dar Ceramica Centre 2001 Ltd, followed by Songoro Marine Transport, Modern Fitting Mart Ltd, Transit Ltd, Meru Spring Water etc.