THE Dar es Salaam Regional Administrative Secretary (RAS) Dr. Toba Nguvila has suggested the need for ensuring that micro, small, and medium enterprises (MSMEs) get one-stop center for all business-related services.

Nguvila made the suggestion yesterday in Dar es Salaam when speaking during the launch of the Kariakoo Festival which brought together 100 exhibitors from both the public and private sector.

The festival was masterminded by the Kariakoo business community which is committed to seeing businesses thrive. Over 100 exhibitors both local and foreign are taking part in the ongoing Kariakoo Festival taking place at Mnazi Mmoja grounds in Dar es Salaam.

“Kariakoo market is arguably East and Central Africa's most vibrant commercial hub. This is an international market and in a bid to move in line with this status, it has begun providing services 24hrs now. We are proud of the Kariakoo Festival and we believe it will showcase various goods available to the world,” he said.

He however expressed frustration with the lack of participation of key government agencies including the Busines Registration and Licensing Agency (BRELA), the Tanzania Bureau of Standards (TBS), the National Insurance Corporation (NIC), and the Fair Competition Commission (FCC) among others in the festival.

Martin Mbwana, Kariakoo Business Community Chairperson various themes will be showcased during the weeklong event.

“We will showcase different themes each day to offer a unique festival experience. There will also be lots of entertainment to ensure that people who will turn up get a memorable experience,” he added.

Alex Mgeni, head of business banking, NMB expressed commitments towards supporting the country’s MSMEs to drive increased growth and development, stressing that the lender will continue to play a leading role in the economic transformation and growth of MSMEs.

Mgeni said the Kariakoo business hub remains a pivotal and strategic business hotspot for the bank adding that the festival provides a platform for the bank to engage directly with its clients and aligns with the bank’s quest to businesses to the next level.

“We did not have second thoughts when contacted to be sponsors for the Kariakoo Festival. We believe MSMEs are the primary drivers of economic development. We have implemented a comprehensive suite of initiatives including seamless digital payment propositions tailored to meet the varied needs of entrepreneurs,” he stressed.

Mgeni said apart from providing funding for MSMEs, the bank also enhanced their capacities by providing financial literacy and creating networking opportunities for them.

“We are confident that our continued support for MSMEs will lead to an improvement in their performance and contribution to the economy as a whole,” he noted.