Diversity in the Tanzania business community: its implications for economic growth

Diversity in the Tanzania business community: its implications for economic growth

Tanzania's diverse business community: a valuable resource to be nurtured

This report is a synopsis of the proceedings of a Workshop held at the ESRF. The study addresses the difficulties which the private sector encounters in Tanzania's business environment, profiled the diversity of business in Tanzania and assessed the political-economic future and its implications on growth.Policy recommendations:

  • Maintain low inflation, manageable fiscal deficit and a realistic exchange rate
  • Provide consistent and stable policies at the macro and micro levels
  • Improve co-ordination between macro and micro institutions
  • Develop entrepreneurship through special development programmes especially for small and medium enterprises
  • Stengthen the indigenous entrepreneurial and business sector
  • Promote micro-businesses, small household enterprises, and non-household enterprises
  • Enhance equal access of women to business opportunities
  • Develop public awareness to enlist the help of the people in combating corruption on a sustainable basis
  • Castigate racial overtones on business ownership and management
  • Educate the people on the importance of the Multinational Companies investing in Tanzania
  • Adopt the attributes of good governance
  • Ensure an efficient public sector that is accountable and transparent
  • Provide adequate and efficient socio-economic infrastructure
  • Establish sectoral and inter-sectoral business associations for more effective dialogue with the government
  • Discourage racial and religious conflicts in order to encourage stability
  • Encourage more private banks to be established with a wider regional outreach
  • Encourage foreign investments through the privatisation exercise as well as provision of appropriate incentives
  • Upgrade the quality of the labour force through training and re-training
  • Encourage the business community to contribute towards social services
  • Improve the legal and institutional framework by updating outdated laws and enacting new laws which are compatible with market - led economy
  • Shorten the timelag on adjudication of civil cases
  • Promote the culture of arbitration of contract cases outside the law courts
  • Develop managerial capacity to meet the challenges by the new domestic environment and by globalisation

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