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Lack of financial access holds back MSMEs growth in Tanzania

Lack of financial access holds back MSMEs growth in Tanzania

The large size of unbankable micro small and medium enterprises (MSMEs) remains to be a major impediment that holds back the sector’s contribution to economic growth as well as efforts to lift masses from abject poverty.

Figures from the Ministry of Industry and Trade shows that there are about 3.5 million SMEs in the country but the number has never been turned into an investment opportunity by the financial institutions whose core business is lending.

 

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