News: India to support local entrepreneurs in Tanzania

BUSINESS NEWS AFRICA

Africa news gathered by InformAfrica today reports India has promised to support local entrepreneurs in Tanzania in order to improve their efficiency and compete more effectively.

The following Africa news was reported by Tanzania’a The Guardian Newspaper:

India to support Tanzania local entrepreneurs

India to support Tanzanian local entrepreneurs. In this photo: SIDO Director General, Mike Laiser.

IPPMedia – India has promised to provide more support to Small Industries Development Organisation (SIDO) to enable it serve more entrepreneurs and improve their livelihood.

The promise was given on Tuesday in Dar es Salaam by the Indian High Commissioner to Tanzania Debnath Shaw after visited various operations of the organisation located at Vingunguti in Dar es Salaam.

He said Tanzania and India have a long history which has benefited both countries in one way or another, hence the need to enhance such cooperation.

“We can look for areas which need support and see what both governments can do to improve our economies,” he said.

Ambassador Shaw said India has a long experience in development of small scale industries and urged the organisation to tap such opportunity.

“I understand that SIDO has been collaborating with an Indian-based organisation called NSCI in various areas. We have to see how we can improve them,” added.

Former minister Edgar Maokola Majogo who is the founder of Southern Jumbo Cashewnut Limited said the challenge most entrepreneurs are facing is lack of capital.

He said they have tried to borrow from various commercial banks which have helped to improve their operations.

“I took a loan from CRDB bank which enabled me to install this processing plant here which employs 13 permanent staff and 180 daily casual workers. Since the start of our operations last year we have managed to export over 25 tons of cashewnut overseas.

For his part the SIDO Director General Mike Laiser, thanked the Indian government for the support which it has been providing to the organisation.

He said the Indian government has agreed to support the incubator innovations programme which would benefit many entrepreneurs.

“We will start with Dar es Salaam region, where we have the infrastructure and go to other regions later. Our major aim is to improve their efficiency so that they compete at various levels,” he affirmed.

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Source: IPP Media

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