By Alfred Zacharia
The press release announces a new partnership between the United Nations Development Programme (UNDP) and the CRDB Bank Foundation to launch a simplified guide for Tanzanian Micro, Small, and Medium-sized Enterprises (MSMEs).
The goal of this initiative is to help Tanzanian businesses better understand and take part in the African Continental Free Trade Area (AfCFTA), a major trade agreement involving 55 African countries.
The guide will offer MSMEs practical tools, such as advice on entering new markets and understanding trade rules, which will help them grow and expand their businesses across Africa.
Hon. Exaud Kagahe, Tanzania’s Deputy Minister of Industry and Trade, attended the event and emphasized the importance of the AfCFTA for the country’s economy.
“The government knows the benefits of this agreement. That’s why our Parliament ratified it in September 2021, making our country eligible to benefit from the African Free Market,” said Kagahe.
He also mentioned that for Tanzanian entrepreneurs to take full advantage of these opportunities, they must have the right information and the confidence to explore business possibilities across the continent.
UNDP’s Resident Representative, Mr. Shigeki Komatsubara, also spoke at the event, stressing that the AfCFTA could bring great benefits to African countries, especially for women.
“The AfCFTA presents immense opportunities to increase intra-African trade, attract investment, and drive socio-economic transformation,” said Mr. Komatsubara. He also emphasized the UNDP’s commitment to helping Tanzanian SMEs fully leverage these opportunities.
Tully Esther Mwambapa, Managing Director of the CRDB Bank Foundation, pointed out that MSMEs are a crucial part of Tanzania's economy and need support to grow.
“As the CRDB Bank Foundation, we are fully committed to supporting the growth and competitiveness of Tanzanian SMEs,” said Mwambapa.
She highlighted that the foundation is dedicated to providing the tools, resources, and training to help entrepreneurs succeed in the AfCFTA market.
The initiative is supported by key institutions such as the Tanzania Revenue Authority (TRA), Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA), and the Tanzania Bureau of Standards (TBS).
These organizations will work together to ensure that Tanzanian MSMEs are ready and able to engage in AfCFTA markets.
In conclusion, this partnership marks an important step in helping Tanzanian businesses tap into the vast opportunities within the AfCFTA, supporting economic growth and integration across Africa.
With strong backing from the government, UNDP, CRDB Bank Foundation, and other stakeholders, Tanzanian MSMEs are set to thrive and contribute to the country's economic development.
