Forum seeks better youth business finance access

Dodoma. Young entrepreneurs have been urged to strengthen financial discipline, improve record-keeping and embrace formal business practices to enhance their chances of accessing finance and building sustainable enterprises.

The call was made during the third Think Equal Lead Smart (TELS) Knowledge Session held in Dodoma, where business leaders, financial inclusion advocates and entrepreneurs explored practical ways of helping youth-led enterprises become finance-ready.

The session was organised by the CEO Roundtable of Tanzania (CEOrt) through its TELS programme, implemented in partnership with tAhe Vodacom Tanzania Foundation and in collaboration with the Tanzania Women Chamber of Commerce (TWCC).

The forum examined challenges that continue to hinder young entrepreneurs from accessing and effectively utilising capital.

Discussions centred on financial discipline, savings culture, business record management, reinvestment strategies, digital financial tools and a better understanding of available financing options.

Speaking at the event, CEOrt Head of Projects Hawa Urungu said findings from previous TELS engagements across the country had consistently shown that access to finance remains one of the biggest obstacles facing young entrepreneurs.

She noted that while training programmes have helped improve business knowledge and confidence among entrepreneurs, many enterprises still lack the financial systems and structures required by lenders and investors.

"Young entrepreneurs across Tanzania are already contributing significantly to economic activity in various sectors. However, many businesses continue to struggle with the financial systems and structures required for expansion," she said.

According to her, strengthening entrepreneurs' understanding of financial readiness and improving access to financing opportunities are critical to building resilient and sustainable businesses.

Ms Urungu said participants engaged in practical discussions on financial inclusion, savings and reinvestment, business discipline and the challenges faced by youth as they transition from informal survival enterprises to growth-oriented businesses.

She added that partnerships between development organisations, the private sector and financial institutions could play a crucial role in expanding access to information, networks and financing opportunities.

TWCC Deputy Chairperson Naima Nyange said many young entrepreneurs and women operating in informal and semi-formal sectors continue to face significant financing barriers, including collateral requirements, limited credit histories and inadequate awareness of available funding opportunities.

"Creating more practical engagement around financial readiness helps strengthen confidence and improves how entrepreneurs position themselves for growth," she said.

For participants, the session offered valuable insights into what lenders and investors look for when assessing businesses.

Mama Health co-founder Salma Nguku said many entrepreneurs struggle to understand the requirements financial institutions consider before extending credit.

"For many young entrepreneurs, business growth depends largely on personal savings and small profits because accessing finance can feel difficult and intimidating.

Discussions like this help simplify financial systems and make it easier to understand what businesses need to improve before seeking capital," she said.

Another participant, entrepreneur Meshack Tweve, said the forum reinforced the importance of sound financial management in ensuring long-term business sustainability.

"Small businesses often focus on sales and daily operations without paying enough attention to record-keeping, savings and financial management.

The session helped explain why these areas matter when preparing a business for financing and growth opportunities," she said.