Small and medium firms can play substantial role in driving up economic growth and lead into increased job creation and lifting millions of Tanzanians out of poverty.
Bank M Tanzania, Deputy CEO Ms Jacqueline Woiso, said in Dar es Salaam at the weekend in an event to unveil winners of the country’s top 100 medium size firms that the survey has provided important platform for the growth of the companies.
The Top five awards were scooped by Softnet Technologies Ltd, Morogoro Plastics Ltd, Kays Logistics Ltd, Abacus Pharma Ltd and Techno Brain Tanzania Ltd.
“Mid Sized companies should take a proactive approach to assess their performance among their peers to know their market position and strategise on further growth of their business,” Ms Woiso whose bank sponsored the survey said.
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The annual survey covers a broad range of factors including high level of growth in term of business turnover, profitability, operating costs, return on assets, creation of employment and compliance to business regulations including payment of government taxes.
The Top 100 Mid-Sized Companies awards are presented to the medium size firms which have successfully managed to achieve growth whilst adopting corporate governance in their business operations.
These awards have created vast opportunities for the participants, and majority of the companies have gradually succeeded in growing their market share through public awareness of their products and services.
In addition to the benefits enjoyed by the participants over the last five years since the inception of the awards, the Mid-Sized Companies in Tanzania have also contributed significantly in growing the economy through creation of employment and improving the living standards of millions of Tanzanians.
The partner with KPMG Tanzania, Mr Ketan Shah said: “The survey is conducted with a team which is highly skilled in Business Research and our contribution in this undertaking is to promote a fair playground in the market place”, he said.
Source Tanzania Daily News
