The eighth edition of the popular Tanzania Top 100 Mid-Sized Companies survey was announced on 10th July 2018 in Dar es Salaam. The annual survey seeks to identify Tanzania’s fastest-growing medium-sized companies and showcase their business excellence.
It also is an avenue to highlight some of the country’s successful entrepreneurship stories.
The survey is an initiative of KPMG Tanzania and Mwananchi Communications Limited (MCL) through its brand, The Citizen.
The NMB Bank will this year be the main sponsor of the survey which has grown over the years and continues to attract a diverse entry of established and upcoming enterprises. Other sponsors are the Dar es Salaam Stock Exchange (DSE), Azam TV and Hyatt Regency Dar es Salaam, The Kilimanjaro Hotel.
Winners of the survey get to be celebrated by their peers at a grand gala and use the ‘Top 100’ brand in their businesses to attract interest across the region.
“We strongly believe that there is a need to celebrate businesses that contribute to wealth and job creation here in Tanzania” said Mr. Bakari Machumu, MCL’s Executive Editor.
He said businesses that adhered to professionalism and work towards integrity standards were likely to become more competitive.
KPMG partner Mr. Ketan Shah said participating companies were expected to have an annual turnover of between Sh1 billion to Sh20 billion and also be expected to have audited financial records for the last three years. The companies should also not be listed on the stock exchange.
NMB business head (retail) Abdul Majid Nsekela said the institution was happy to be joining the initiative this year. “We view this a one way of recognizing and rewarding SMEs for their achievement and economic contribution,” said Mr. Nsekela.
He said NMB had tailor-made products that target SMEs and would be happy to celebrate their successes.
DSE financial manager Charles Mushi said for the past four years they had been supporting the initiative because they believe that it is a good thing for the business enterprises sustainability and governance.
“The exchange being aware of the value of this company’s opened a capital raising window the Enterprise Growth Market to allow them to gain access to efficient platform to raise capital,” he said.
Azam Media sales director Abdul Van Mohammed said that should be a motivation for SME’s to widen their exposure, gain markets and increase their capital. Hyatt Regency operations director Timothy Mlay called upon many middle-sized companies to take part in the survey.