The Tanzanian government aims to boost local revenue by supporting small local companies. The Small Industries Development Organization (Sido) is leading this initiative.
During a weekend visit to the Sido office, Dr. Selamani Jafo, the Tanzanian Minister for Industry and Trade, stated that Sido should focus on establishing 20 small industries in each region of the country.
He said this during his visit to the Sido office, as reported by the Tanzanian newspaper, The Citizen.
The Minister argued that the growth of the Tanzanian economy depends on the trade and industry sectors, which also work to create both direct and indirect employment opportunities.
“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,” the minister stated.
He also charged Sido to prioritize the processing of agricultural products in Morogoro, which happens to be the food basket region for food processing.
“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 3,” he said.
In response, the director general of Sido, Professor Sylvester Mpanduji, stated that the instructions would be addressed.
He also highlighted proactive measures taken by the organization to promote industrial sector growth. This includes a recent partnership with Azania Bank to provide loans ranging from Shs8 million to Shs500 million. Providing loans is one of the primary functions of the group..
