NMB THROWS WEIGHT ON TOP 100 MID-SIZE COMPANY SURVEY

NMB Bank Plc Business Head Retail, Abdulmajid Nsekela (centre) exchanges Memorandum of Understanding (MOU) documents with the Executive Editor of Mwananchi Communications Limited, Bakari Machumu (right) during the launch of Tanzania Top 100 Mid-sized Companies survey in Dar es Salaam yesterday. Looking on is KPMG Partner, Ketan Shah. 

The eight-episode of Tanzania’s Top 100 Mid-sized Companies’ Survey started yesterday. The episode allows mid-size companies to showcase their business excellence and highlight their most successful entrepreneurship stories.

The National Microfinance Bank (NMB) is its main sponsor while the Dar es Salaam Stock Exchange (DSE), Azam TV and Hyatt are co-sponsors of the event organized by KPMG and Mwananchi Communications Limited.

Speaking during the launch, KPMG partner, Ketan Shah, said it is important for the companies to compete with peers and improve the way they conduct business as competition is growing.

“When your company is ranked in the top 100 mid-sized companies, you are in what I call the mileage zone, you will get a lot of publicity, recognition, and respect from all stakeholders,” Shah said.

He added by encouraging all Tanzanian mid-sized companies to seize the opportunity and participate in the survey as it has numerous benefits.

Mr. Shan stressed that companies that qualify for the survey are those with a turnover ranging between 1.0bn/- and 20bn/-, audited financial records for the last three years, not listed on a stock exchange market and must not be a bank, insurance, law firm and accounting or auditing firm.

Moreover, 100 mid-sized companies will be selected from participating companies based on their revenue growth.

NMB’s Business Head of Retail, Mr. Abdulmajid Nsekela, said support to small and medium-sized enterprises (SMEs) is a key aspect of economic development, and actively helping to formalize this critical part of the economy.

Daily News