The European Union, through the MARKUP II program, has partnered with the Tanzania Bankers Association (TBA) and the International Trade Centre (ITC) to unveil the MSME Financing Gateway, a digital platform aimed at enhancing access to finance and business services for Tanzanian MSMEs.
Launched under the EU-East African Community (EAC) Market Access Upgrade Programme, the gateway connects MSMEs with financial institutions and service providers, fostering transparency and promoting growth. So far, it has registered 35 MSMEs, 40 financial institutions, and 20 service providers across Burundi, Kenya, Uganda, Tanzania, and Rwanda.
Mr. Theobald Sabi, TBA Chairman, emphasized MSMEs’ significant role in contributing to one-third of Tanzania’s GDP and employing 20%-35% of the labor force. However, he highlighted persistent challenges in accessing financial resources.
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Paola Trevisani, Head of Infrastructure and Regional Cooperation at the EU Delegation to Tanzania, lauded the gateway as a step toward empowering MSMEs to thrive locally and globally.
Aligned with Tanzania’s National Financial Inclusion Framework 2023-2028, the platform promotes financial literacy, formalization, and technology-driven solutions to reduce informality. It aims to increase active financial service use by businesses to 50% and boost credit uptake by 25% by 2028.
This initiative underscores Tanzania’s commitment to fostering financial inclusion and bolstering MSME competitiveness.
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