Embrace financial discipline to expand businesses, traders told

By Guardian Correspondent , The Guardian
Published at 06:47 AM Jun 24 2024
National Economic Empowerment Council executive secretary Beng’i Issa pictured in Dodoma city addressing representatives of women, youth and special groups on the implementation of the council’s economic empowerment programmes.
Photo: Guardian Correspondent
National Economic Empowerment Council executive secretary Beng’i Issa pictured in Dodoma city addressing representatives of women, youth and special groups on the implementation of the council’s economic empowerment programmes.

THE National Economic Empowerment Council (NEEC) has urged young women, youth and special need groups to adopt a culture of financial discipline to grow their businesses and participate fully in the national economy.

Beng'i Issa, NEEC Executive Secretary, made the call here at the weekend when the council introduced the ‘Strengthening the economy with Mama Samia’ programme in Dodoma Region.

She said financial discipline os of paramount importance since it helps increase capital and profit.

"Saving money in a bank account is much safer that keeping money in small containers called kibubu which are prone to loss theft,” she said.

“Saving money in the bank creates an opportunity to get loans and increase your capital.”

She also said that the groups need to have long-term and short-term business goals because a business needs a vision and strategy to be implemented so that money can be generated.

Dodoma Regional Commissioner Rosemary Senyamule said region received the programme and its objectives, promising through disseminate information about it to the target groups so that they can participate.

"I need you to be excited about the opportunities available in our region by starting businesses because this year national Nanenane celebration will be held in our region; use this opportunity," she said.

She said during Nanenane, farmers will have an opportunity to sell crops, food and various products as people from other regions will participate to showcase their undertakings in farming, breeding and fishing.

Joha Mtamba, Chairperson of Women's Economic Forum in Dodoma District said innovative businesspeople can liberate themselves through empowerment from the programme.

Zainabu Harabu, a resident of Dodoma who is a vegetable vendor, said through the programme she was able to learn how banks provide loans and how to get health insurance.

"This enables traders to get an opportunity to expand their businesses because of loans."

The programme provides empowerment information in collaboration with financial institutions to enable citizens strengthen their businesses.