Tanzania is home to a vibrant and growing eco-system of small and medium enterprises (SMEs). According to Tanzania’s Chamber of Commerce, Industry and Agriculture (TCCIA), SMEs constitute 95 per cent of all businesses in Tanzania and contribute to over 35 per cent of the country’s GDP.
As well as playing a key role in driving forward economic growth, SMEs represent a variety of firms in different sectors of the economy, including agriculture, transport and retail.
Collectively, these firms have helped transform Tanzanian development by generating new jobs; fostering innovation; helping to deliver goods and services for low income individuals; as well playing an important role in integrating women and youth into mainstream economy. In fact, SMEs will play a pivotal role in helping Tanzania attain its middle-income economy status by 2025.
However, despite the economic, political and social benefits, key constraints remain for the future of SME development. Particular challenges facing these businesses include difficulties in accessing financial services as well as poor internet connectivity.
Thankfully, our private sector is working hard to find solutions to these problems. Tigo Tanzania is a prime example of a telecommunications firm that is at the forefront of driving improvements to support the future growth of these businesses.
The company has recently announced the launch of their Office internet service, which has been specifically designed to improve internet connectivity for SMEs. Tigo’s offering allows businesses to connect up to 32 devices to their high-speed 4G+ mobile internet, and access a suite of useful applications through Microsoft 365.
In addition, SMEs can reap additional benefits by becoming a Tigo Pesa Merchant. In doing so, businesses can join a network of over 70,000 firms which are able to accept mobile money payments, as well as pay bills and suppliers from their Tigo Pesa wallet.
By delivering innovative solutions to help SMEs grow, Tigo is helping to increase productivity in the country, as well as provide economic opportunities for countless Tanzanians.
It is this type of market leading work from companies like Tigo that is accelerating economic development and driving Tanzania’s economy forward.