KPGM flags off competition for 100mid-size firms

LUDOVICK KAZOKA

KPMG Partner Auditor, Mr Vincent Onjara speaks to reporters in Dar es Salaam yesterday at the launch of the TOP 100 Mid-Sized Companies. The Survey shows that increased competition tops the list of challenges facing mid-sized companies. Left is last year’s winner of the Top 100 Mid- Sized companies, Flightlink Company Managing Director, Captain Munawer Dhiran, and Azam Media Sales Manager, Mr John Mbele. (Photo by Staff Photographer)

SEVENTH episode of top Tanzania 100 mid-sized companies search was officially unveiled yesterday with a call to more companies to take part in the annual event.

The event organised by KPMG, a global network of professional firms providing audit, tax and advisory services, aims to recognise mid-sized companies that are doing better than their peers in economic development in the country.

KPMG Partner Vincent Onjala made the call in Dar es Salaam yesterday, saying the survey has a lot of benefits to the country companies. But he said the most important one is mileage and that when a company is ranked in the top 100 mid-sized companies gets a lot of publicity, recognition and respect from all stakeholders.

Mr Onjala noted that the midsized businesses need to change perception and come up with the best ways through which they can make their companies more marketable. “I encourage all Tanzanian mid-sized companies to seize this opportunity and participate in the survey as it has multiple benefits,” he said.

The companies that qualify for the survey are those with a turnover between 1 to 20bn/- audited financial records for the last three years and not registered on Dar es Salaam Stock Exchange (DSE).

Other qualifications for companies in the survey as a company must not be bank, insurance firm, SACCO, law firm, accounting or auditing firm.

“The top 100 mid-sized companies are selected from all participating companies on the basis of their revenue growth over the past three years,” he observed.

The main purpose of the Top 100 mid-sized companies is to identify Tanzania fastest growing medium sized firms with a view to showcase their business excellence and highlight their most successful entrepreneurship stories.

Data showed that for the last six years, some 1,000 businesses competed to be among the Top 100 mid-sized companies. He said winners of Tanzania Top 100 mid-sized companies survey will be announced in September during a gala dinner event to be held in Dar es Salaam.