Tanzania targets 20 small industries per region
Minister for Industry and Trade, Dr Selemani Jafo speaks during his visit to the Sido offices in Dar es Salaam. PHOTO | COURTESY
What you need to know:
- He said that the economy depends on industries and trade, which also promote employment, especially for young people who have completed their studies.
Dar es Salaam. The minister for Industry and Trade, Dr Selemani Jafo, has directed the Small Industries Development Organisation (Sido) to facilitate entrepreneurs in establishing 20 small industries in each region.
Minister Jafo said this at the weekend during his visit to the Sido offices in Dar es Salaam.
He said that the economy depends on industries and trade, which also promote employment, especially for young people who have completed their studies.
“We have some industries, including Alliance One in Morogoro, among others, which are generating many jobs in the country, and therefore, it is important for Sido to facilitate citizens in establishing industries,” he said.
He added that industries can create both direct and indirect jobs in the country, especially enabling farmers to provide raw materials, among others.
He also urged Sido to support processing clusters in Morogoro, which is a food basket region for processing agricultural products.
“Our expectation is to have two industrial parks in each region by 2030, something that the Coast region has already achieved, and now they have three,” he said.
Meanwhile, while responding to the directive, Sido’s Director General, Prof Sylvester Mpanduji, said that they will follow the instructions to establish 20 small industries in each region.
“We provide technological advisory services, such as producing using technology to process agricultural, livestock, and forestry products,” he said.
However, he noted that Sido has the ability to offer loans of Sh5 million with an interest rate of 6 percent.
But to enable entrepreneurs to access more, they have entered into an agreement with CRDB Bank, where they guarantee loans for entrepreneurs for up to Sh10 million.
“CRDB offers loans with an interest rate of 9 percent,” he said.
He noted that to support the establishment of large industries, Sido has entered into an agreement with Azania Bank to provide loans ranging from Sh8 million to Sh500 million.
He said that, as of now, Tanzania has 89,800 industries.
