New equity fund to boost SMEs capital

By The guardian reporter

Mkoba Private Equity Fund

The Mkoba Private Equity Fund which was recently launched by President Jakaya Kikwete has been described as a true economic weapon in supporting development and growth of small and medium enterprises (SMEs).


Patron for Diana Women Empowerment Organisation, Eng Emmanuel Ole Naiko said the fund that designed to support SMEs on equity investments will be a panacea to small and medium entrepreneurs in Tanzania.

“The launch of Mkoba Private Equity Fund has come at a very right time when local SMEs were stuck due to lack of capital,” Ole Naiko who is also the Botswana Honorary Consular to Tanzania said over the weekend.

Ole Naiko was speaking recently to members of Diana group who attended a day-long entrepreneurship training.

He said the fund is a reflection of government’s long time commitment to empower the SME sector.

He said the government through Tanzania Investment Centre (TIC) has put in place favourable legal systems for both local and foreign investors, but how to obtain capital remained a problem to SMEs due to frustrating conditions set by commercial banks.

“As a Tanzanian who supports the growth SMEs I really appreciate the launch of the scheme towards liberating small and medium enterprises in the country,” he said, calling upon SMEs to utilise the fund.

Ole Naiko also urged the seminar’s participants to translate the skills and knowledge they had acquired into practice to help their businesses grow.
“Entrepreneurship training seminars like this are of paramount significance since they help to sharpen knowledge and skills,” he said.

Earlier, the Organisation’s National Chairperson, Farida Khakoo said the seminar had attracted 40 participants who were also the group members.

“Our organisation takes care of orphans, people with disabilities and widows. These groups engage in entrepreneurial activities,” she said. According to the chairperson, the seminar’s participants were enlightened on how to keep records of their businesses and how to make profit from their ventures. 

SOURCE: THE GUARDIAN