WOMEN owners of Small and Medium Enterprises (SMEs) in Dodoma Region have been challenged to be proactive and tap opportunities brought by the government.

The challenge was made yesterday by Dodoma Regional Commissioner, Rosemary Senyamule, saying there are a lot of opportunities in the region and other parts of the country where women can participate.

 In a speech read on her behalf by Mary Mabaya, the RC noted that the government has availed a lot of chances that female traders can utilize just like their male counterparts.

She was addressing a workshop and dialogue session that brought together over 100 leaders of Women-led Small and Medium Enterprises (WSMEs) organized by Women in Management Africa (WIMA).

According to her, WSMEs have been facing several challenges such as lack of capital, favoritisms and prohibitive traditions. As a rersult, they struggle to strike a balance between family and business activities as well as market networks. 

“Women should acquire more knowledge, embrace modern technology and pursue projects availed by the government and other stakeholders” she said.

WIMA Founder and CEO Dr Naike Moshi said that the meeting was to commemorate the 2024 Micro-, Small and Medium-sized Enterprises (MSMEs) Day.

The day offers an opportunity to discuss and exchange ideas on how key stakeholders, including policy makers, large companies, financial institutions and the international community can support micro, small and medium-sized businesses to advance positive changes.

Dr Moshi said that leaders who attended the event collectively oversee more than 50,000 women-led SMEs and manage over 10000 community groups, showcasing the vibrant and substantial contribution of women to the local economy.

 According to her. the central theme that emerged from the discussions was the critical issues of access to finance, adding that many WSMEs face significant hurdles in securing the necessary funding to start, sustain and grow their businesses.

The challenges, she said, include stringent loan requirements, high-interest rates and limited access to financial literacy resources.

 “Celebrating SMEs Day with this impactful workshop reinforced our dedication to empowering women in business.”, she said. 

She added that the insights gained from the leaders in Dodoma will inform the future initiatives, ensuring that support  for the growth and sustainability of women-led businesses across Tanzania.

 MSMEs account for 90 percent of businesses, 60 to 70 percent of employment and 50 percent of GDP worldwide.

 As the backbone of societies everywhere they contribute to local and national economies and to sustaining livelihoods, in particular among the working poor, women, youth, and groups in vulnerable situations.

MSMEs hold the potential to transform economies, foster job creation and promote equitable economic growth if given adequate support. 

The MSME Day event aims to highlight their pivotal role and explore opportunities for their further advancement.

 The United Nations General Assembly designated 27 June as “Micro-, Small, and Medium-sized Enterprises Day” to raise awareness of the tremendous contributions of MSMEs to the achievement of the United Nations Sustainable Development Goals (SDGs).